Brand Finance, an independent brand valuation consultancy firm has ranked telecommunication giant, Mobile Telephone Network (MTN) as Africa’s most valuable company.
The number 1 spot gained by MTN, follows a brand valuation survey of Africa’s 150 top companies by Brand Finance. The MTN Group, according to Brand Finance is worth $3.3 billion.
With a subscriber base of over 250 million in 23 countries, it is no surprise that MTN emerged as Africa’s most valuable brand.
MTN is to be commended for its performance in its home market as well as further afield. They are increasingly recognized throughout Africa by their customers as providing high-quality service because their brand image is deeply rooted in more than just marketing campaigns,
said David Haigh, Brand Finance CEO
Immediately following MTN in the rankings, were Vodafone, First National Bank, and Absa Bank placing second, third and fourth respectively.
Dominance and Controversy
According to MTN’s 2019 five-year review document published in April, out of the 23 countries it operates, it has the biggest market share in 13 of them.
MTN’s impressive feat has however, not come without scrutiny and cost. In Ghana, for instance, the National Communications Authority (NCA) has taken cognizance of the company’s dominance and seeks to control it.
MTN Ghana is said to currently control close to 70 per cent market share of the country’s data subscriptions and a little below 60 per cent of voice.
It also owns the leading mobile money platform, outstripping other telecommunication brands like Vodafone, Glo and AirtelTigo.
