South Africa’s top 100 brands rose 12% in 2026 to R771 billion ($45.9 billion), and MTN Group retained its position as the country’s most valuable brand for the 13th consecutive year.
The result from Brand Finance shows a mix of scale, steady demand for digital services, and steady investment across its operations.
MTN leads with a brand value of about R50.9 billion and its uniqueness isn’t limited to its size, but how it earns across different markets and services.
The group operates in about 16 countries and serves more than 300 million users, providing a wide and stable base of revenue across Africa.
Mobile data is the main growth driver. More users now depend on data for streaming, communication, and everyday digital activity. This supports recurring income and reduces reliance on traditional voice services.
With demand for connectivity growing, MTN benefits directly from increased data usage across its markets.
Fintech services are also a big part of its growth. MTN has expanded mobile money and digital payment platforms in several countries. These services allow users to transfer funds, make payments, and access financial tools through mobile devices.
The expansion adds new revenue streams and strengthens customer engagement within its ecosystem.
Again, infrastructure investment, where MTN continues to expand and upgrade its network to improve coverage and service quality. These improvements help meet rising demand and maintain user trust in its services.
Strong network performance also helps reduce customer loss to competitors.
The group’s long-term brand visibility has long contributed to its position, with MTN maintaining consistent public presence through partnerships and sponsorships over the years, including its long-running association with national rugby. This visibility has supported brand recognition and trust among users.
Looking at the market environment which has also improved, South Africa’s top brands recorded stronger performance in 2026, supported by improved energy supply, easing inflation, and the country’s removal from the Financial Action Task Force grey list in late 2025.
Structural reforms and a sovereign credit rating upgrade by S&P Global around the same period also contributed to renewed investor confidence.
Jeremy Sampson, chairman of Brand Finance Africa, said: “As South Africa’s economic environment stabilises, the country’s leading brands are demonstrating strong resilience and growth. Sectors such as banking, retail, and telecoms continue to anchor the ranking.
“Strong gains in insurance and beers highlight how sustained brand investment and operational performance can translate into significant brand value growth. Strong brands will continue to play an important role in strengthening investor confidence and supporting South Africa’s long-term economic competitiveness.”
Other brands that joined MTN on the 2026 list included Vodacom Group, which ranks second with a brand value of about R47.9 billion, supported by expansion into markets such as Egypt and Ethiopia and increased use of digital financial services.
Standard Bank Group holds third place at roughly R45 billion, driven by strong corporate banking performance and ongoing investment in digital platforms.
First National Bank and Absa Group benefited from high customer adoption of digital banking services. In retail, Checkers was the strongest brand, supported by high consumer trust, expansion of its delivery services, and consistent customer traffic.
PEP recorded the fastest growth among the top brands, rising 76% to R5.8 billion. Its performance showed expansion across its retail network and increased use of digital payments and financial services.
Five new entrants also joined the rankings in 2026, including Savanna, SANRAL, Valterra Platinum, Oros, and the Johannesburg Stock Exchange.
Taken together, MTN’s scale, data-driven revenue, fintech expansion, and steady investment in infrastructure all support its sustained position, even as competition strengthens across telecoms, banking, and retail sectors.
