Telecommunications giant, Vodafone, has emerged as the world's most valuable telecommunications brand, according to a global ranking of the world's most valuable brands compiled by BrandFinance Global 500. The same brand ranking places Vodafone as the most valuable brand in the UK, a statement from Vodafone said on Saturday, quoting a report by Brand Finance Global 500. The report said out of the 500 global top brands, Vodafone currently ranks seventh, beating other top brands such as HSBC (8th), Toyota (10th), MacDonald's (17th), Apple (19th) and Nokia (20th). Vodafone was the eighth most valuable brand in the world in the 2009 rankings of the Brand Finance Global 500 report, but the brand's image and value shot up to seventh this year. The value of the world's leading telecommunications brand, Vodafone, is at $29 billion US dollars. Vodafone paced past major brands in the UK league, with the firm among 27 British companies listed in this year's survey of the world's 500 most valuable brands by Brand Finance. Vodafone entered the telecommunications market in Ghana about 11 months ago, and is already making a great impact with its subscriber base, according to the company. The company said its ultimate goal is to become the number one telecommunications operator in Ghana providing a one-stop telecommunications solution to its clients and subscribers. According to the Head of Corporate Communications of Vodafone Ghana, Mr Ike Cudjoe, the global ranking of the Vodafone brand is a clear indication of the pedigree of the company and what the brand offers to its clients, customers, partners and shareholders. Mr Cudjoe said the posture of Vodafone was to excite the Ghanaian market with great telecommunication innovations and solutions, "because mobile and fixed line subscribers in Ghana deserve the best and this must happen". The methodology employed in the BrandFinance Global 500 uses a discounted cash flow (DCF) technique to discount estimated future royalties, at an appropriate discount rate, to arrive at a net present value (NPV) of the trademark and associated intellectual property: the brand value. Source: GNA