Etisalat ‘most valuable tech brand in Mideast’
Abu Dhabi , March 25, 2012
Etisalat, the UAE-headquartered telecommunications company with operations in 17 markets across the Middle East, Africa and Asia, has been ranked in the Global 500 most valuable brands in the annual study conducted by Brand Finance.
According to the study, Etisalat is the most valuable technology brand in the Middle East with a brand value of Dh11.4 billion ($3.12 billion) and a ‘very strong’ brand strength rating of AA-. It is one of just three Middle Eastern companies listed and the leading telecommunications brand, said a statement.
Etisalat was recognised for enhancing its brand value through the introduction of innovative products and services such as its mobile healthcare and m-Commerce initiatives which help accelerate the social and economic development of the communities it serves.
“Etisalat is a rapidly growing emerging market brand that is developing increased levels of awareness in developed markets,” said Gautam Sen Gupta, managing director, Brand Finance Middle East. “In order to grow in new markets, Etisalat has demonstrated an ability to innovate to solve local market challenges and it actively takes a position of leadership in its sector.”
Mobile commerce technology is an example of how Etisalat is using innovation to accelerate social and economic development in its 17 markets of operation. The company’s m-Commerce platform gives un-banked and under-banked customers the ability to trade, pay for goods and services and transfer remittances to home countries via their mobile devices. Last year more than Dh6.6 billion was transferred through Etisalat’s mobile money transfer facility, the statement said.
The Brand Finance Global 500 report shows that brand values in emerging markets, especially those in the Middle East, Africa and Asia, are growing more quickly than those in developed markets.
Brand Finance calculates the brand values in the study using the ‘Royalty Relief’ approach – a methodology recognised worldwide that ties back to the commercial reality of brands: their ability to command a premium in an arm’s length transaction. This method is highly actionable for accounting, tax, litigation and commercial purposes, the statement said. – TradeArabia News Service