Ooredoo has been ranked in the top ten most valuable brands in the Middle East and North Africa (MENA) region for the first time according to a new study, following a successful year that has seen the company raise its profile around the world.
In securing its position, Ooredoo is one of three leading Qatari brands in the top ten, and among the strongest communications brands ranked in the rating.
The “Brand Finance Middle East 50” report is created by leading intangible asset valuation consultancy Brand Finance, which ranks the most valuable Middle Eastern brands every year.
According to the report, Ooredoo’s brand value has consistently increased since the company began its global brand roll-out in February 2013. During these three years, Ooredoo has seen a 169% increase in its estimated brand value, which the report calculates at US$ 2.1 billion in 2016.
The report also notes that, with its AA+ brand rating, Ooredoo is the strongest telecoms brand in the region. The report states that the company is one of the most valuable communications brands in the Middle East today, and could rank higher in the future as Ooredoo continues to build its customer base and reinforce its brand. Ooredoo’s global customer base reached 118 million by the end of March 2016.
Sheikh Saud Bin Nasser Al Thani, Group CEO, Ooredoo, said: “Ooredoo has grown to become an internationally-recognised brand that was born in Qatar. This report underlines the strength of our brand as a key asset for our company, and also demonstrates how far we have progressed in our ambition to be a leading international communications company.”
Since Ooredoo began its brand launch in February 2013, the company has overseen a major modernisation process which has included network investment, customer service revamps and digital content boosts across markets in the Middle East, North Africa and Southeast Asia.
Beginning with its home market Qatar, the Ooredoo brand rolled-out across the company’s international operations in Kuwait, Oman, Algeria, Tunisia, the Maldives, Myanmar and Indonesia, in one of the most comprehensive and far-reaching transformation exercises ever undertaken by a leading communications company.
In recent years, Ooredoo has focused heavily on its products and network, which are designed to enrich customers’ digital lifestyles and support business growth and development.
Highlights in recent years include the introduction of the 4G+ and nationwide fibre networks in Qatar; the introduction of 4G services in Qatar, Kuwait, Oman, Indonesia and Tunisia that made Ooredoo one of the region’s leading 4G companies; the operational launch in Myanmar that brought mobile broadband to millions of people for the first time; and surpassing the 100 million customer milestone in 2015.
The study results, which calculates brand value by using a Royalty Relief methodology which determines the value a company would be willing to pay to license its brand.