Telecoms giant, MTN has claimed the spot in the Brand Finance overall ranking of Africa’s top 150 most valuable and strongest brands. MTN was crowned as the continent’s most valuable brand, despite recording a 1% brand value loss to US$3.3bn.
MTN is leading the way for South African dominance in the ranking.
According to a report, MTN has celebrated solid profits and impressive subscriber growth, which currently stands at over 250 million across 23 countries in the last one year.
Over time, OTT messaging apps like WhatsApp have been impacting voice and SMS revenue, and challenger brands offer comparable data services at below-market rates, leading to stiff price competition and decreasing margins.
Meanwhile, Covid-19 may be an opportunity for telecoms brands to reverse their fortunes, as demand surges.