A survey into brand value has found that South African brands are overcoming the country's recession. According to the Brand Finance Africa report, total brand value in the country has increased 3% year-on-year from 29.2 billion US dollars in 2016 to 30.1 billion US dollars in 2017. Jeremy Sampson, the director of Brand Finance Africa, said that South African brands' growth above inflation said “much about the [country's] future potential”. Top of the brand value list was the mobile telecoms company MTN, which was found to be worth 3.1 billion US dollars. The banking sector was found to be the strongest sector in the country, with the nine brands included in the survey making up nearly “25% of the total brand value”. However, the retail sector appears to have suffered from the country's recession, with the current most valuable retail brand having grown by just 2% over the last year.