Monday, August 10, 2020

Etisalat sets record $10 billion brand value barrier

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Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]
Etisalat has been declared as ‘The Most Valuable Portfolio Brand’ in Middle East and North Africa (MENA) by Brand Finance, the world’s leading independent brand business valuation and strategy consultancy. The recognition is for the company’s impressive portfolio of brands becoming the first Middle East group to surpass some of the finest MENA brands across the telecom, aviation and FMCG sectors to break the $10 billion barrier in terms of wider portfolio value.

 

Etisalat boasts of a portfolio of brands, i.e. Etisalat UAE, Etisalat Misr, PTCL, Ufone, Mobily, Maroc Telecom and Etisalat Afghanistan. In 2018, Brand Finance declared PTCL as the fastest growing brand in Pakistan, with a brand value of USD 119M. Both PTCL and Ufone contributed to the current Etisalat’s brand portfolio value.

 

PTCL is the leading telecom operator in Pakistan providing a vast array of telecommunication services forretail, corporate and other telecom operators. The company has also embarked upon a massive upgradation of its top 100 exchanges under the Network Transformation Project across Pakistan.These upgraded exchanges will be able to provide speeds up to 100mbps to customers in those areas.

 

Etisalat has seen an 8 percent growth since last year reigning as the most valuable portfolio brand.Not only this, Etisalat retained its position as the Most Valuable Consumer Brand in MENA for the second consecutive year, as wellas its position as the Most Valuable Telecom Brand in MENA also for second consecutive year.

 

On the occasion, Saleh Abdullah Al Abdooli, CEO, Etisalat Group, said, “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.

 

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 Haigh, CEO 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, amongst 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.”

 

Recently, PTCL has been assigned initial long-term entity rating of ‘AAA’ (Triple A) and short-term rating of ‘A-1+’ (A-One Plus) by JCR-VIS Credit Rating Company Limited (JCR-VIS). The assigned ratings reflect PTCL’s leading market position, extensive network infrastructure, strong financial risk profile and adequate business risk profile.

Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

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