In a report by Brand Finance, MTN Group has been awarded Africa’s top telecoms brand. Brand Finance is an independent brand valuation consultancy company. In the report, Brand Finance stated that MTN’s brand value was boosted by a solid overall performance for the year, despite challenging economic conditions and regulatory challenges in some markets. It also recognized MTN for its focus on customers and providing a high-quality service across all its markets.
Brand Finance acknowledged MTN’s strategy to grow revenues through data and digital, while also focusing on growing its subscriber base. MTN’s brand strength rating was also upgraded from AAA- to AAA, in recognition of an increasingly strong leadership position in telecommunication services throughout Africa, as well as increasingly resilient network investments.
“Amid these unprecedented times in fighting a global pandemic, MTN Group is humbled by the Brand Finance recognition and our progress in rising up through the ranks of this year’s Telecoms 150 report.”MTN President and Group CEO, Rob Shuter.
The CEO of Brand Finance, David Haigh said: “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”
The report also noted a negative global impact on the brand value of the world’s biggest telecom companies which are set to be impacted by the Coronavirus outbreak. About this, MTN Group CEO, Shuter said, “We have built a sound, robust and resilient organization that can and will weather the storm before us. As a Group, we are taking the decisive steps required to persevere in our MTN spirit of togetherness and a positive, can-do attitude.”
MTN Group was launched in 1994 and has become a leading telecoms company in Africa having outlets and branches all over the continent. In Uganda, MTN has a market share of 10.7 million customers and over 40% of the mobile subscribers in Nigeria, according to Wikipedia.