Here are the top 10 most valuable brands in South Africa
MTN has retained the number one place on the ranking of the most valuable South African brands in the world, according to the latest Brand Finance report.
The leading telecoms brand value has surged this year, returning to growth after a disappointing result in 2021. MTN’s value (up 34% to R59.8 billion) has extended its lead over second-ranked Vodacom (up 5% to R29.9 billion) meaning that MTN’s brand value is now worth almost exactly double Vodacom’s brand value.
While the introduction of new regulations in have slowed growth in Nigeria, the number of MTN subscribers across the African continent increased by 2.9 million this year, to over 272 million subscribers globally.
The full ranking for 2022 is as follows:
- MTN – R59.8 billion
- Vodacom – R29.9 billion
- Standard Bank – R23.4 billion
- FNB – R23.4 billion
- Absa – R21.3 billion
- Multichoice – R17.5 billion
- Woolworths – R17.3 billion
- Shoprite – R15.7 billion
- Nedbank – R15.1 billion
- Mondi – R15 billion
The aggregate value of the top 50 South African brands grew by 15% this year, from R452 billion in 2021 to R519 billion in 2022. Similarly, the aggregate value of the top 100 South African brands grew by 17% this year, from R488 billion in 2021 to R570 billion in 2022.
This increase in brand values reflects significantly improved revenue forecasts in a future of lessened COVID-19 harm, and the likelihood of reduced civil unrest in key markets for South African brands.
Fastest growing
Checkers (up 71% to R11.1 billion) is the fastest growing brand in the entire report – a reflection of its ability to adjust to changing consumer demand through the pandemic.
Over the two years of the pandemic, amidst a time of significant economic disruption, the value of the Checkers brand has more than doubled: from R4.9 billion in 2020, to its current value of R11.1 billion.
As its customers look forward, Checkers is in a strong position to leverage its greater brand value to drive further growth, Brand Finance said.
“Checkers’ brand value is part of the same group as Shoprite (up 22% R15.7 billion) which also achieved significant brand value growth. The combined muscle allows Checkers and Shoprite to benefit from being part of a larger group with opportunities to leverage the two brands in appropriate market segmentation.”
Woolworths (up 37% to R17.3 billion) also achieved significant brand value growth this year.
“In a year that is seeing various supply chain disruptions, Woolworths has been rated very favourably by its customers, achieving an extremely strong brand rating of AAA+. A key driver of Woolworths’ brand strength is parochial support in South Africa, where local consumers and stakeholders feel a national affinity with Woolworths,” Brand Finance said.
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