South Africa100 The annual report on the most valuable and strongest South African brands R771 billion:Top 100 SouthAfrican brands +SA’s top brands outperform all domestic marketindicators, with exceptional double-digit growth +Sustained brand strength through consistentinvestment and delivery has created the tailwindsfor accelerated business performance +R50.9 billion brand value: Telecom titanMTNis South Africa’s No.1 brand, asCapitecenters the top 10 most valuable brands atninth position +Checkerstop brand strength with a BSI scoreof 97.0/100 & AAA+ brand strength rating +Fastest growing brand:PEP’s brand valuejumps 76% to R5.8 billion +Banking, Retail and Telecoms sectors drivebrand value growth in 2026 +Five new brands debut in the ranking includingSavanna, SANRAL, Valterra Platinum, Oros andthe Johannesburg Stock Exchange (JSE) Contents ForewordDavid Haigh, Chairman & CEO, Brand Finance IntroductionJeremy Sampson, Chairman, Brand Finance Africa Country Overview Valuation AnalysisMost Valuable South African Brands 2026Fastest Growing Brand Value:PEP Brand Strength Analysis Sector Analysis22 Brand Spotlights Old Mutual31Mosala Phillips, Chief Marketing Officer, Old MutualSANRAL34Shoprite37Standard Bank41Diana Springer, Head, Brand & Marketing, Standard Bank Brand Value Ranking (Rm) Methodology Our Services AboutBrand Finance Bridging the gap between Brand Finance was set up in 1996 with theaim of 'bridging the gap between marketingandfinance'.Formorethan25years,wehave helped companies and organisations Quantifying the We put thousands of the world’s biggestbrands to the test every year. Rankingbrands across all sectors and countries, Unique combination The world'sleading brandvaluation Our teams have experienceacross a wide range of disciplinesfrom marketing and market research, Priding ourselveson technical credibility Brand Finance, a chartered accountancyfirmregulatedbytheInstituteofCharteredAccountants in England and Wales, is thefirstbrandvaluationconsultancytojointheInternationalValuationStandardsCouncil. For business enquiries, please contact:enquiries@brandfinance.com For media enquiries, please contact:press@brandfinance.com +44 207 389 9400www.brandfinance.com Foreword This year marks Brand Finance’s 30thanniversary. Throughout our history as acompany, there has been one enduring truism: brands operate in a world shapedby continual change. Rapid advancements in AI, geopolitical fragmentation, economic uncertainty,and rising expectations of corporate behaviour have all placed new pressureson organisations. While the challenges have evolved, the importance of building Looking back to 1996, the global brand landscape was dominated by traditionalconsumer names. Since then, the rise of technology and digital services, the movefrom products to ecosystems, the increasing prominence of B2B brands, and the David HaighChairman & CEO,Brand Finance Today, the commercial contribution of a strong brand is well recognised. It drivesdemand, supports premium pricing, attracts and retains talent, increases resilienceduring uncertainty, and provides confidence to investors. Despite this awareness,many organisations still struggle to quantify brand value or explain its role in business At Brand Finance, our mission for 30 years has been to close that gap. By bringingtogether robust valuation methodologies and in-depth research, we help leadersunderstand the financial impact of their brand and make better-informed decisions.Whether you are looking to strengthen brand performance, evaluate marketing As you explore this year’s findings, I encourage you to consider how the insightscan support clearer decision-making within your organisation. Strong brands arebuilt through informed choices and consistent investment, and our team is ready Introduction South Africa’s brands outpace national economic growth. At Brand Finance, we view brands as tangible assets, capable of being boughtand sold, and often the most valuable assets a company owns. Yet manyorganisations still lack a clear understanding of their brand’s true value, or BrandsareoftenstillthoughtofinanFMCGandB2Ccontext.Butthatviewfeels increasingly outdated. Today, B2B brands matter just as much, if not more.At its core, building a strong brand is not just about marketing, it is simply goodbusiness.TheannualGlobalIntangibleFinanceTracker(GIFT)reporthighlights Jeremy SampsonChairman, The global average of intangible assets, largely made up of brands, nowaccounts for 58% of total business value. That raises an important question:why are brands so widely undervalued, or in some cases not valued at all? As abroadruleofthumb,brandsinEuropeareestimatedtobeundervaluedby10-14%, In a world that appears ever more unpredictable, shaped by geopolitical tensions,economic pressure, shifting tariffs, and a general sense of volatility, strong brandsoffer somethin