The most valuable brands in South Africa in 2024 – BusinessTech

FNB is still the most valuable brand in South Africa, with a brand value of $3 billion (R54 billion).

This is according to the Kantar BrandZ Most Valuable South African Brands 2024 Report, which shows that the country’s most valuable brands have a combined total value of $29.7 billion (R527 billion).

“In a challenging economic landscape, Banking, Telecoms and Alcohol brands dominate with their ability to deliver on key drivers for growth,” said Kantar.

FNB keeps its spot as number one, with Kantar noting that the bank has seen growth in its retail and private banking client base with a new pricing structure and solid digital banking channels.

Second place is Standard Bank saw its brand value increase by 2% to $3,066 million (R54.36 billion).

Telecom providers also showed a strong performance, with Vodacom in third place at $2,459 (R43.59 billion).

“Vodacom benefitted from acquisition, expansion of its network and a focus on enhanced customer experience. The result is a customer ecosystem that delivers offerings including telecoms, fixed connectivity, finance and insurance services,” said Kantar.

MTN was in fourth place, with a brand value of $2,391 million (R42.39 billion).

“Once again, South African brands find themselves operating in difficult financial circumstances and
the overall value of the Top 30 declined 6%,” said Kantar.

“High inflation and rising interest rates are leading to reduced consumer spend, while the power crisis that results in load shedding limits the hours that companies can operate and generate growth.”

“The fluctuating value of the South African rand is another contributing factor. Between 2018-2024, the rand has depreciated by around 35%, whilst the Top 30 South African brands have held their value significantly better than this.”

That said, 40% of the brands in the ranking were able to grow their value, with financial services and alcohol brands showing strong strong performance.

Alcohol brand Castle (No.5; $1.99bn) ranked fifth, with a brand value of $1,994 million (R35.35 billion).

Investec was the fastest riser, growing 33% to a 10th-best value of $926 million (R16.41 billion). The brand grew due to its strong leadership and increased UK shareholding.

“Across a range of business sectors, South African brands are continuing to transcend the currently challenging market conditions,” said Ivan Moroke, CEO, South Africa, Insights Division, Kantar.

“A large proportion are meeting the needs of customers with actions and initiatives that mark them out as being Meaningfully Different and relevant to consumers’ lives today.”

“These strong, forward-focused brands are proving that they can identify what it takes to grow and follow up by implementing programmes to deliver this.”

Kantar BrandZ Top 10 Most Valuable South African Brands 2024:

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