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 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...
Image sourced from Bandwidth Blog Telkom has made two changes to its board of directors – the appointment of Alphonzo Samuels as a non-executive director with effect from 1 January 2021, as well as Hemmanth (Herman) Singh as an independent non-executive director with effect from 25 September 2020. This comes after the telco revealed that Santie Botha and Khanyisile Kweyama, both independent non-executive directors, have made the decision to retire, with effect from 25 September 2020 and 31 December 2020 respectively. Samuels holds a Bachelor of Technology degree from UNISA and is said to be a seasoned executive with more than 35 years’ experience in the telecommunications industry. He also completed an Executive Development Program and a Program for Enterprise Leadership. He is well-positi...