South Africa-based mobile operator MTN Group has made it onto a “World Champions” list compiled by financial services organisation Citi Group.
The list, according to a report on Business Insider, aims to illustrate the companies around the globe “dominating in their respective industries”.
MTN is the only SA based company to feature on the list compiled after all of Citi’s analysts provided their candidates, before a “selection committee” handpicked a total of 50 firms, Business Insider said.
According to Citi, MTN is rated neutral on “valuation and competitive issues”. The group faces stiff competition from the likes of Vodacom, and Cell C in its home territory, but operates in 21 countries, being the number one player in 15 of those markets, and number two in the rest.
Shares in MTN have shown a return of 41% over the past year, up to R218.50 on the JSE, giving it a market cap of R409 billion.
ICT based companies feature prominently on the list, which includes the likes of Bharti Airtel, Facebook, Google, SAP and Qualcomm.