MTN makes list of top 10 global brands, ranks 199th among Global 500

MTN logo

 

By Prince Osuagwu

MTN blazed the trail again this week when it made the list in the top 10 most  valuable global brands, emergeing Africa’s most valuable brand and the only African global brand in the 2011 BrandFinance Global 500. 

BrandFinance Global 500 is one of the world’s most comprehensive brand value league table that ranks the most valuable brands across all major markets. 

On its 2011 league table, which was released this week, BrandFinance Global 500 ranks MTN at position 199 with an AAA rating denoting “extremely strong” brand. The next African brand on the table, Standard Bank, falls marginally outside the Global 500 ranking at position 510. 

MD of Brand Finance South Africa, Oliver Schmitz, said that "it is great to see a brand created in Africa competing in our table of the world’s 500 most valuable brands. MTN’s brand team should be applauded for their efforts in building such a valuable asset and should see themselves as trailblazers for other African brands,”   . 

MTN, with 141, 6 million subscribers, is the market leader in the majority of its 21 territories in which it operates, and enjoys iconic status across its vast footprint in Africa and the Middle East. This could be partly because the company has long highlighted the need to understand the underlying drivers of brand equity held by consumers.  

MTN’s efforts to understand consumers’ motivation, needs, aspirations, belief system and other values which are important in developing customer satisfaction, brand loyalty and sustainable success have been core to the brand’s promise and success. 

Schmitz added that “MTN has increased its market share as a result of leveraging its strong brand, rated AAA by Brand Finance, and improved propositions across key audiences. The brand perception was greatly supported by MTN's affiliation to the 2010 FIFA World Cup,” 

However, an elated MTN Group Marketing Executive, Jennifer Roberti said that “we are very proud to represent the best of Africa on BrandFinance’s Global 500 list. The ranking bears testament to MTN’s emerging market and marketing know-how and further demonstrates what we have long known to be true – that the developing markets are poised to compete on the world stage.” 

Although the top end of the Global 500 contains many household names brands that have existed for decades - IBM, Bank of America, HSBC - the world’s increasing dependence on the internet and technology is reflected by Google’s position at no. 1.