Riyadh – Mubasher: Saudi Telecom Company (stc) headed its peers in the Middles East region as the most valuable brand in the telecoms sector, according to The Brand Finance Global 500 2021 report.
STC was the third most valuable brand across all sectors, following Saudi Aramco and the Abu Dhabi National Oil Company (ADNOC).
Saudi Aramco has retained its position as the Middle East’s most valuable brand, valued at $37.5 billion, whilst globally, Apple reclaimed the position of the world’s most valuable brand from Amazon.
STC, moreover, became the region’s fastest-growing brand with its brand value rising by 14% to $9.2 billion. In the meantime, it jumped 53 notches to reach the 189th position, becoming the second fastest-growing brand among 20 global telecom companies, with an “AAA” brand strength rating.
Furthermore, the group’s CEO, Nasser S. Alnasser, secured the highest rating, being a leader who helped enhance the brand of a telecom company. Brand Finance pointed to the CEO’s efforts in driving the company’s progress in 5G technologies in a bid to become a local and regional digital transformation leader in tandem with the Saudi Vision 2030 goals.
Noteworthy to mention, STC’s board accepted the resignation of Alnasser last November and appointed Olayan Mohammed Alwetaid as the group's new CEO starting from 28 March 2021.
