The report explained that despite the challenging economic conditions and regulatory challenges in some markets MTN’s brand value was improved by a solid overall performance for the year.

Brand finance added that MTN also focused on customers and provided high-quality service across all its markets.

MTN President and Group CEO Rob Shutter said: “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 Group President and CEO; Rob Shutter
MTN Group President and CEO; Rob Shutter

Brand Finance CEO, David Haigh stated that “MTN is to be commended for its performance in its home market as well as further afield. They are increasingly recognised throughout Africa by their customers as providing high-quality service because their brand image is deeply rooted on more than just marketing campaigns.”

He added that MTN’s ‘BRIGHT’ strategy allows the telco to grow revenues through data and digital as it on growing its subscriber base.

It also upgraded MTN’s brand strength rating from AAA- to AAA. This is due to the consistent strong leadership position in the telecommunication sector in Africa and the other markets within which it operates.

The report, however, said that the brand value of the world’s biggest companies will be heavily impacted by the COVID-19 outbreak.

“We have built a sound, robust and resilient organisation 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,” Rob Shuter said.