<\/p>\n
The South African National Roads Agency\u2019s (Sanral\u2019s) appearance among Africa\u2019s most valuable brands has raised questions about how an entity still associated with Gauteng\u2019s failed e-toll system can rank alongside major consumer and corporate names.<\/p>\n
Brand Finance, which compiles the annual survey, told Moneyweb the answer lies not in public popularity alone, but in a broader financial and institutional assessment of the agency.<\/p>\n
Read:
Sanral procurement chief suspended again
Don\u2019t want e-tolls? Then pay for GFIP roads, Treasury tells Gauteng<\/p>\n
Sanral has been ranked as Africa\u2019s 84th most valuable brand, despite its controversial history and the enduring public anger linked to e-tolls.<\/p>\n
In South Africa, Sanral is ranked 53rd by brand value, at R2.8 billion, and 25th by brand strength, with a Brand Strength Index score of 86 out of 100 and an AAA rating.<\/p>\n
Questions over \u201cbrand strength\u201d<\/p>\n
The inclusion has prompted questions about whether a state-owned roads agency, which motorists cannot choose in the same way they choose a bank, retailer or mobile network, can fairly be described as a strong brand.<\/p>\n
Ollie Schmitz, managing director of Brand Finance Africa, says the ranking should not be interpreted as a popularity contest or an endorsement of every part of Sanral\u2019s history.<\/p>\n
\u201cSanral continues to carry significant historical associations linked to the e-toll era,\u201d he said.<\/p>\n
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\u201cAt the same time, the evidence reviewed as part of this assessment indicates measurable improvement in public sentiment and institutional performance over time.\u201d<\/p>\n
Brand Finance says Sanral\u2019s brand value declined by about 20% when the e-toll declaration was formally withdrawn in 2023 and 2024, because future toll revenue expectations were lowered.<\/p>\n
The agency\u2019s accumulated credit losses of R28.96 billion, linked to unpaid e-toll debt, were also considered in context, with Brand Finance noting that the debt has already been fully impaired and the carrying value of the Gauteng Freeway Improvement Project receivables is now zero.<\/p>\n
A \u2018bespoke\u2019 scoring system<\/p>\n
The agency manages total assets of R831 billion, including a road network valued at R680 billion. Toll revenue now represents just 17% of Sanral\u2019s total revenue, down from 35% a decade ago.<\/p>\n
Because Sanral is not a conventional consumer-facing company, Brand Finance developed a bespoke assessment framework for it.<\/p>\n
While commercial brands are typically measured against 11 brand equity indicators, Sanral was assessed against 47 metrics, including service delivery, stakeholder trust, governance, institutional capability, audit findings, parliamentary reports, annual reports, market research and social sentiment analysis.<\/p>\n
Brand Finance says research conducted across all nine provinces, including among Gauteng road users, indicates that Sanral\u2019s public brand equity has tripled since 2016.<\/p>\n
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However, the underlying public sentiment research is proprietary to Sanral and therefore not available for independent public scrutiny.<\/p>\n
The valuation also uses a standard \u201croyalty relief\u201d methodology, which estimates the hypothetical value of licensing a brand.<\/p>\n
Brand Finance says Sanral\u2019s brand-value-to-revenue ratio of 8.6% is aligned with the engineering and infrastructure sector and significantly lower than consumer-facing brands such as MTN, FNB and Checkers.<\/p>\n
Not about popularity, but institutional value<\/p>\n
Schmitz says Sanral\u2019s ranking reflects a post-e-toll operating environment, improved institutional performance and the economic importance of national road infrastructure, rather than an attempt to erase public resentment.<\/p>\n
\u201cThe data, assessed rigorously and independently, tells a story of measurable recovery and institutional resilience,\u201d he said.<\/p>\n
For motorists who refused to pay e-tolls, that may remain a difficult conclusion to accept.<\/p>\n
But Brand Finance insists Sanral\u2019s ranking is not based on affection. It is based on whether, despite a damaged past, the organisation is now building measurable economic and institutional value.<\/p>\n
Read:<\/p>\n
Treasury wants more private sector help around fixed investment
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#Brand #Finance #ranks #Sanral #top #brand<\/p>\n","protected":false},"excerpt":{"rendered":"
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