telkom group
Telkom Group CEO to Step Down
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Telkom Group Records Growth in Mobile Business
Telkom has released its financial results – ending 31 March 2021. The telco saw the lion’s share of its income made up by “next-generation technologies” like its mobile business. Growth, driven by the mobile business, saw EBITDA grow 11.7% to R11 973 million, with EBITDA margin expanding by 2.8 ppts to 27.7%. Despite a challenging environment, Group revenue grew 0.4% to R43 222 million. Mobile business revenue growth now more than offsets the anticipated structural decline in fixed-voice revenue and revenue pressures from COVID-19. The results showed a change in revenue mix, with legacy fixed-voice income now contributing only 15% to the business. Notwithstanding the challenging trading environment, the Group delivered underlying earnings growth of 88.1% to R2 622 million, growing BEPS and...
Telkom Unveils Fraud and Corruption Reporting Platform
Telkom has unveiled a multi-channel whistleblowing platform that allows users to report any acts or suspected acts of fraud, corruption, and irregular conduct within the organisation. The company says that this service is part of the Group’s ethics and corporate governance mechanisms to ensure that the Telkom Group remains a corruption and fraud-free organisation. “Every individual has a responsibility to play their part in rooting out fraud and corruption in our society, communities, and organisations. South Africa was recently ranked #69 out of 180 countries in Transparency International’s Corruption Perceptions Index for 2020, further highlighting the severity of fraud and corruption in our country,” reads a statement from the telco. “That is why Telkom Group has partnered with safe lin...
Telkom Kenya Revises its Mzito Data and Voice Bundles
Image sourced from Bandwidth Blog Telkom has made revisions to its Mzito Data and Voice Bundle deals – this includes adding more data and cutting voice minutes. The telco says these changes are to make the bundle options more competitive. Here’s a closer look at the new bundles: MZITO 500 MZITO 1000 MZITO 2000 CURRENT NEW CURRENT NEW CURRENT NEW VOICE 100 50 300 150 600 400 DATA 3 GB 3 GB 8 GB 10 GB 17 GB 25 GB VALIDITY 30 days No expiry 30 days No expiry 30 days 30 days CALL RATE PAYG PAYG PAYG PAYG PAYG PAYG PRICE KES 500 KES 500 KES 1000 KES 1000 KES 2000 KES 2000 “The new combo bundle is built with the evolving data and experience needs of our customers in mind. While they continue to demand for affordability, they are also keen on holistic and comprehensive offerings that address thei...
Telkom Group Appoints New CFO
Telkom has announced the appointment of Dirk Reyneke as Chief Financial Officer – to be taken on with immediate effect. He succeeds Tsholofelo Molefe who has resigned to join MTN Group. According to TechCentral, Reyneke was previously CFO of Telkom’s wholesale division, Openserve, and before that, he was CFO of its property business, Gyro. He was also a director of finance and operations at ABSA. The company has also announced changes to its board which include naming Kholeka Mzondeki as the chair of its social and ethics committee, Fagmeedah Petersen-Cook to a member of the nominations committee and Keith Rayner to the investment and transactions committee. Airtel Africa and Telkom Under Investigation by the Communications Authority of Kenya Airtel Africa and Telkom have been placed under...
Telkom Reports 19% Increase in Mobile Subscribers
Telkom South Africa has revealed its interim results for the six months ending 30 September 2020. The telco was driven by a 19% increase in mobile subscribers – reaching 13.7 million – to claim the position of South Africa’s third mobile operator. Telkom delivered solid EBITDA growth despite a slight revenue decrease of 0.4% to R21.4 billion in the face of difficult trading conditions brought on by the COVID-19 pandemic. “Telkom’s decision to invest in infrastructure ahead of demand enabled us to meet the surge in demand and weather the acceleration of the decline in fixed voice revenue during the national lockdown,” says Sipho Maseko, Telkom Group CEO. Telkom Mobile expanded margin by 13.2 ptts to 29.9%, optimised direct cost to revenue ratio from 53% in the prior period to 38% and more t...
Telkom Makes New Changes to Board
Telkom has made new changes to its board committees. In a recent statement, the telco says “shareholders are advised that Telkom will reconstitute various of its Board Committees with effect from 28 September 2020.” Here is a closer look the changes that Telkom will make to its board committees: Botha will resign from the nominations committee and the remuneration committees Dolly Mokgatle will be appointed as a member of the nominations committee Sibusiso Sibisi will be appointed as a member of the risk committee Rex Tomlinson will be appointed as the chairman of the remuneration committee and a member of the nominations committee. He will retire from the audit committee Louis Von Zeuner will be appointed as a member of the remuneration committee and will retire from the social and ethics...
Telkom Kenya and Airtel Subscribers Fall Over Failed Merger, says CA
Image sourced from Bandwidth Blog Telkom Kenya and Airtel have recorded a 16% fall in mobile Internet subscribers after consumers grew uncertain over a proposed merger of the telcos, according to Gadgets Africa. A report by the Communication Authority of Kenya (CA) reveals that there were only 38.85 million Internet subscribers as of March 2020 – this resulted in a decline from 46.46 million in the same period last year. “The merger deal collapsed last month with Airtel Kenya and Telkom Kenya citing unacceptable conditions placed on the proposed amalgamation besides delays in receiving regulatory approvals,” reports Business Daily. “The companies had entered into an agreement on February 8, 2019 to combine their mobile, enterprise and wholesale divisions, a proposed deal that led to uncert...
