MTN has been awarded the most valuable telecom brand in Africa in a recent annual report by Brand Finance, a leading independent brand valuation consultancy.
The report stated that MTN's brand value was boosted by a solid overall performance for the year, despite challenging economic conditions and regulatory challenges in some markets.
Brand finance also recognised MTN for its focus on customers and providing a high-quality service across all its markets.
"Amid these unprecedented times in fighting a global pandemic, MTN Group is humbled by the Brand Finance recognition and our progress in rising up through the ranks of this year's Telecoms 150 report" said MTN President and Group CEO, Rob Shuter.
Brand Finance CEO, David Haigh commented: "MTN is to be commended for its performance in its home market as well as further afield. They are increasingly recognised throughout Africa by their customers as providing high quality service, because their brand image is deeply rooted on more than just marketing campaigns."
Brand Finance acknowledged MTN's BRIGHT strategy to grow revenues through data and digital, while also focusing on growing its subscriber base. It upgraded MTN's brand strength rating from AAA- to AAA, in recognition of an increasingly strong leadership position in telecommunication services throughout Africa and the other markets within which it operates, as well as increasingly resilient network investments.
The report noted a negative global impact on the brand value of the world's biggest telecom companies which are set to be impacted by the Coronavirus outbreak. "We have built a sound, robust and resilient organisation that can and will weather the storm before us. As a Group, we are taking the decisive steps required to persevere in our MTN spirit of togetherness and a positive, can-do attitude," concluded Shuter.