Most valuable tech brands in South Africa

MTN remains at the top of the list of South Africa’s most valuable tech brands, despite its value dropping by over $800,000 (R15 million) between 2023 and 2024.

This is according to data from Brand Finance, which lists several telecoms, broadcasting, and banking companies as the most valuable in South Africa.

These include MTN, Vodacom, Standard Bank, FNB, Absa, Investec, and MultiChoice.

Its data also reveals that the gap between MTN and the runner-up, Vodacom, has narrowed.

MTN was valued at $4.375 million (then R81.60 billion) in 2023, and its valuation has fallen to $3.570 (R66.71 billion) in 2024.

Brand Finance said MTN’s ability to maintain the top spot despite its valuation decline is a testament to its robust market presence and brand value.

“The telecommunication giant’s international presence in over 21 markets worldwide has enabled them to build a resilient global South African brand,” said Jeremy Sampson, Chairman of Brand Finance Africa.

“This is demonstrated by Nigeria emerging as its largest market, not just in user base but also in revenue generation, surpassing its South African operations by nearly R30 billion.”

Vodacom’s valuation also declined, but only by just under R1 billion. Its valuation fell from $2.345 million (then R43.82 billion) in 2023 to $2.298 million (R42.94 billion) in 2024.

Standard Bank is the most valuable banking company in South Africa, and its valuation grew between 2023 and 2024.

According to Brand Finance’s data, Standard Bank’s valuation was $1.748 million (then R32.67 billion) in 2023. It has grown by roughly R4 billion to $1.966 million (R36.74 billion).

FNB and Absa are the next-most valuable banking brands in South Africa, with very little separating them in terms of value.

Both have seen their valuations decline between 2023 and 2024, with FNB’s being the most significant drop at roughly R2.8 billion.

FNB’s valuation fell from $1.540 million (then R28.78 billion) in 2023 to $1.391 million (R25.99 billion) in 2024.

On the other hand, Absa’s valuation drop was less severe at just under R2.2 billion. It was valued at $1.492 million (then R27.88 billion) in 2023, and this declined to $1.376 million (R25.71 billion) in 2024.

Investec’s valuation grew by nearly R1 billion between 2023 and 2024. It is the fourth most valuable banking brand in South Africa.

Its valuation breached the $1 million mark in 2024, climbing from $992 (then R18.54 billion) in 2023 to $1.041 (R19.45 billion) in 2024.

MultiChoice is the seventh most valuable tech brand in South Africa, and the broadcaster’s valuation grew by just under half a million rand between 2023 and 2024.

The DStv owner was valued at $974 million (then R18.20 billion) in 2023. This figure climbed to $999 million (R18.67 billion) in 2024.

The most valuable tech brands in South Africa and their 2023 and 2024 valuations are listed in the table below.