Etisalat was named the “most valuable portfolio brand” in Middle East and North Africa (MENA) by Brand Finance on Tuesday.
It is the first Middle East group to break the $10 billion barrier in terms of wider portfolio value.
Etisalat boasts of a portfolio of brands such as Etisalat Misr, Mobily, Ufone, Maroc Telecom, PTCL and Etisalat Afghanistan. The company has seen a growth of 8 percent since last year, resulting in becoming the first Middle Eastern brand to hold such a wide portfolio. For the second consecutive year, Etisalat also retained its position as the most valuable consumer brand in the Middle East and Africa.
“We are proud to achieve the recognition as the most valuable portfolio brand and the first Middle Eastern brand to break the $10 billion barrier in terms of wider portfolio value in the MENA region,” said Saleh Abdullah Al-Abdooli, CEO of Etisalat Group.
He added: “Thanks to the UAE leadership’s support, vision and encouragement that helped Etisalat achieve this significant milestone surpassing some of the top renowned regional brands. This achievement is also due to our continuous efforts in digital transformation whereby we have amplified our reach and presence in a highly competitive marketplace by investing in new digital platforms and global brand-building initiatives. Etisalat’s success as a brand was also reinforced by the synergy of operating companies across our footprint, creating brand loyalty and enhanced engagement with our customers.”
David Heigh, CEO of Brand Finance, said: “It is a real testament to the leadership of the UAE that Emirati brands are leading the charge for the Middle East, among the world’s most valuable brands. As celebrations for the ‘Year of Zayed’ wrap-up, we recognize the achievements, will and determination of the UAE’s founding father, the late Sheikh Zayed bin Sultan Al-Nahyan.”
Operating in 15 countries across Asia, Middle East and Africa, Etisalat’s success can also be attributed to its continued efforts in developing its customer loyalty programs, sports sponsorship commitments and in driving the digital future to empower societies.
Brand Finance is an independent branded business valuation and strategy consultancy, and is the organization behind the Global 500 Brands and Telecom 300 league table of the world’s biggest brands ranked by their brand value.