Our investment case

Leading in digital infrastructure and the backbone of South Africa's digital future

• One of South Africa's largest digital infrastructure players, with over 180 000 km of fibre, 7 909 mobile sites and 10 carrier-neutral data centres supporting the country's digital transformation
• Market-leading FTTH connectivity rate of 50.4%, enhancing our ability to drive broadband penetration
• Strategic partnership with Google's Equiano undersea cable, expanding our reach, network capacity and technology capabilities

Demonstrating strong financial and operational performance

• Proven ability to execute strategy, delivering data revenue growth, cost optimisation, improved cash flow and resilient financial position:
  • Data revenue up 9.5% to R24.7 billion, driven by increased fibre and mobile broadband adoption
  • Improved free cash flow (FCF) (+555.2%)
  • A stronger balance sheet, with net debt to Group adjusted EBITDA improving to 0.6 times
• The disposal of Swiftnet resulted in R6.6 billion cash received, which strengthened our balance sheet and enhanced financial flexibility

Delivering on a strong sustainability commitment

• Ambitious targets for carbon neutrality (by 2035) and net zero (by 2040). Achieved a 10% reduction in emissions in FY2025
• Commitment to socioeconomic development, with R68 million invested in education and digital skills through the Telkom Foundation
• FutureMakers programme supports 459 small enterprises, contributing to 73 890 job opportunities and strengthening our supply chain
• R48 billion in gross economic value added. Our operating activities helped to employ more than 77 029 people across South Africa

Leveraging our growth potential and innovation

• We operate in a high-growth sector driven by ongoing demand for connectivity and a national drive to increase digital access
• Ongoing investment in artificial intelligence (AI), automation and digital solutions to enhance customer experience and drive operational efficiency
• Leveraging our 184 MHz spectrum portfolio to enhance mobile network coverage and expand 5G deployment
• Expanding high-speed broadband and cloud services, with a focus on fibre connectivity and edge computing
• Strengthening enterprise digital transformation capabilities through BCX's cloud, cybersecurity and other IT service offerings

Showcasing resilient governance and leadership

• A strong, diverse leadership team focused on executing our strategy as OneTelkom for maximum impact and efficiency
• Robust corporate governance and risk management practices aligned with King IV and the JSE Listings Requirements
• A prudent capital allocation framework that balances debt reduction, strategic investments and shareholder returns