These are the most valuable brands in South Africa

 ·13 Apr 2024

MTN is South Africa’s most valuable brand, even if its value has dropped by 8% year-on-year to under R70 billion.

According to a new report from Brand Finance, the telecommunications brand has expanded outside South Africa and has a massive stronghold in Nigeria, its largest market in terms of user base and revenue.

MTN-rival Vodacom was in second place, increasing its brand value by 10% to roughly R43 billion in 2024, narrowing the gap between first and second.

Although Vodacom operates autonomously and is listed on the JSE, Brand Finance’s data suggests that Vodacom’s association with Vodafone enhances its brand equity, growing recognition and trust.

“Amid the myriad of challenges that South African businesses are facing, our research highlights that now, more than ever, brand consistency is crucial in driving growth,” said Jeremy Sampson, Chairman of Brand Finance Africa.

Nando’s is included in the South African 100 for the first time with a brand value of around R28 billion, with Brand Finance able to use new data sources and value the brand.

Nando’s fourth-place entry, behind Standard Bank, reflects its status as a global restaurant. Despite being rooted in South Africa, Nando’s gets most of its revenue from international markets, notably the UK and Australia.

FNB, South Africa’s fifth most valuable brand, is South Africa’s strongest brand based on several metrics, such as valuable marketing investment, stakeholder equity, and business performance.

FNB has an elite AAA+ brand rating, with its 2022 brand update helping boost brand equity and appeal.

“This success is attributed to the bank’s strategic shift towards positioning itself as more advisory-focused, rather than merely product-oriented. Brand Finance’s research also found FNB had high levels of familiarity and consideration among consumers in South Africa.”

Other banking brands in the top 10 include Absa (6) and Investec (8).

Retailers Spar (7) and Shoprite (9) also make the cut, while Multichoice completes the top 10.

South Africa’s most valuable brands in 2024 can be found below:

Brand2023 Strength2024 Strength2023 Value 2024 Value
MTNAAAAAA$4,375M (R81.6 billion)$3,570M (R66.71 billion)
VodacomAAAAAA$2,345M (R43.82 billion)$2,298M (R42.94 billion)
Standard BankAAAAAA$1,748M (R32.67 billion)$1,966M (R36.74 billion)
Nando’sAA+$1,477M (R27.60 billion)
FNBAAA+AAA+$1,540M (R28.78 billion)$1,391M (R25.99 billion)
AbsaAAA-AAA-$1,492M (R27,88 billion)$1,376M (R25.71 billion)
SparAAAAAA$1,262M (R23.58 billion)$1,137M (R21.25 billion)
InvestecAA+AA+$992M (R18.54 billion)$1,041M (R19.45 billion)
ShopriteAAA-AA+$901M (R16.84 billion)$1,030M (R19.25 billion)
MultiChoiceAA+AA+$974M (R18.20 billion) $999M (R18.67 billion)

Read: Checkers sweeps Pick n Pay as it opens 5 new stores in one day

Show comments
Subscribe to our daily newsletter