Johannesburg - MTN Nigeria has been named the most valued brand in the country despite facing numerous challenges there recently.
The results of the 2016 Top 50 Brands survey place MTN Nigeria ahead of many renowned local and international brands, including Coca-Cola and Guaranty Trust Bank.
Read also: MTN lays its Nigerian penalty to rest
The survey gauged brands based on the Brand Strength Measurement (BSM) Index, which uses basic qualitative factors to test the strength or weakness of a brand, including consumers’ familiarity with the brand, quality elements a brand possesses, market/category leadership, innovation, spread and corporate social responsibility initiatives, among others.
MTN group executive chairman Phuthuma Nhleko commended the company’s Nigerian operation following the announcement.
Nhleko said this was an honour for MTN because it spoke to how the company was viewed by customers and the impact that it had on their lives.
“In spite of recent difficulties, the MTN Nigeria team continues to focus on finding ways to enhance and brighten the lives of our customers and this acknowledgement is a positive reflection of these ongoing efforts,” Nhleko said.
Last year, MTN Nigeria was fined $5.2 billion for failing to disconnect 5.1 million unregistered cellphone subscribers.
MTN in June agreed to settle the fine handed to MTN Nigeria by the country’s authorities for the equivalent of $1.671 billion, which is around a third of the original $5.2 billion fine.
In September, the mobile network operator was also accused of illegally repatriating around $14 billion out of Nigeria, an accusation which it denied.
AFRICAN NEWS AGENCY