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The End of an Era: Telkom Sells Off Its Towers – But at What Cost?

In a move that has sent shockwaves through the telecoms industry, the Competition Commission has given the green light for Telkom’s massive mast and tower business, Swiftnet, to be sold to a consortium led by Actis – but only after imposing certain "conditions" on the deal.

Telkom’s Golden Handshake

Shareholders, including the government of South Africa, which owns a whopping 40.5% of Telkom, voted overwhelmingly in favour of the sale in May, despite not a single vote being cast against the deal. The government’s significant stake in Telkom raises questions about potential conflicts of interest and the motivations behind the sale.

A Towering Failure?

The sale of Swiftnet to Actis and Royal Bafokeng Holdings has sparked concerns about the impact on competition in the market. The commission’s lukewarm approval of the deal raises eyebrows, especially given the potential risks to consumers and the telecoms sector as a whole.

The Bottom Line

The real question is, what’s in it for Telkom? CEO Serame Taukobong claims the sale will enable the company to "unlock shareholder value and streamline its focus on core business operations," but is this just a veiled attempt to dump a loss-making asset and shift the blame to others?

The Consortium’s Gameplan

Actis and Royal Bafokeng Holdings plan to fund the purchase of Swiftnet through a combination of equity and third-party debt. But what does this mean for the future of the telecoms industry, and are these players truly committed to benefiting the South African economy or is this just a cynical play to extract profits?

Stay Tuned

The fate of Telkom’s Swiftnet is far from sealed. The company still needs to get the thumbs up from the Competition Tribunal, and only then can the deal be officially done. Will the Tribunal see through the fine print and block the sale, or will Telkom get its way? Only time will tell.

The Towering Deal: Swiftnet’s Towering Heights

In a move that could change the game for South Africa’s telecommunications industry, the Competition Commission has approved a whopping R6.75 billion deal between TowerCo and Telkom to acquire Swiftnet, the latter’s tower and mast business.

Swiftnet, the prized jewel of Telkom’s portfolio, boasts an impressive 6,200 installations across the country, providing co-location space to major mobile network operators. But why would Telkom want to unload its golden goose? The answer lies in shareholder value and a focus on core business operations.

The deal, pending approval from the Competition Tribunal, will see TowerCo, a newly formed company controlled by Actis Ohio Fund and Royal Bafokeng Infrastructure Investments, take the reins of Swiftnet. But what does this mean for competition in the market?

Competition Concerns Allayed

According to the CompCom, the proposed transaction is unlikely to substantially lessen or prevent competition in any market. TowerCo, the primary acquiring firm, was established specifically for this purpose, ensuring a level playing field.

Actis Group, a global investor, brings its expertise in energy infrastructure, real estate, and private equity to the table. Meanwhile, Royal Bafokeng Group, an investment holding company, contributes its diversified portfolio of interests across various sectors and geographies.

Public Interest Commitments

To address public interest concerns, the merger parties have committed to procuring services from small/medium enterprises and firms owned by historically disadvantaged persons for a period of five years from the merger implementation date. This move aims to promote socioeconomic development and empower marginalized communities.

The proposed deal is a significant milestone in South Africa’s telecommunications landscape, with far-reaching implications for the industry. Will it shake things up or maintain the status quo? Only time will tell.

The Future of Tech: A Wake-Up Call for Africa’s Business Elite

Get ready for the most anticipated event in the African tech calendar – Datacentrix Showcase 2024! On August 22nd, the who’s who of the business and tech world will converge at Montecasino in Johannesburg to explore the latest innovations that will shape the future of African business.

The Ultimate Game-Changer: Artificial Intelligence

The event kicks off with a bang, featuring a keynote address by the enigmatic Andile Ngcaba, chairman and founding partner at Convergence Partners, who will delve into the world of sovereign artificial intelligence. This is not just a buzzword – AI is the key to unlocking sustainable growth and success in the data-driven world we live in.

The Future of Football: How Tech is Revolutionizing the Beautiful Game

Next up, Sanjeev Katwa, technology director at Tottenham Hotspur Football Club, will join President Ntuli, MD of HPE South Africa, for a riveting discussion on how HPE solutions have transformed the Tottenham Hotspur Stadium into a technological wonderland. From fan engagement to stadium operations, this is a must-see for anyone who loves football or is interested in the impact of tech on sports.

The Economics of Digitalization: A Wake-Up Call for Africa’s Business Leaders

Azar Jammine, director and chief economist of Econometrix, will deliver a thought-provoking presentation on the impact of digitalization on South Africa’s economic growth. This is a critical topic that will have far-reaching implications for business leaders and policymakers alike.

Breakaway Sessions: Unleashing the Power of Tech

The afternoon is packed with 20-minute breakaway sessions, covering topics such as AI, data challenge, digitalization, security, and more. This is your chance to dive deeper into the technologies that will shape the future of African business.

The Innovation Festival: Where Tech Meets Fun

The event culminates in an "Innovation Festival" featuring a Digital Experience Lab, sponsor exhibition areas, local food truck market, networking pockets, prizes, and entertainment. This is the perfect opportunity to connect with like-minded individuals and learn about the latest innovations in the tech space.

The Datacentrix Difference

At the heart of Datacentrix Showcase 2024 is the company’s commitment to client success. As Ahmed Mahomed, CEO of Datacentrix, puts it, "Our end goal is to create sustainable business growth and success for our clients in this new AI, data-driven world." This is more than just a tagline – it’s a promise that Datacentrix is committed to delivering.

Don’t Miss Out!

The Datacentrix Showcase 2024 is an event that will change the way you think about tech and its impact on African business. Register now and join the conversation!

Get Ready for the Most Explosive and Thrilling Start-up Saga in Africa!

In a jaw-dropping move, Google has revealed the top 10 African start-ups to join the coveted Google for Start-ups Accelerator Africa programme – and one of them is a game-changing South African mobile mechanics platform that’s about to shake the industry!

Meet Fixxr, a trailblazing start-up that’s putting car owners and businesses in the driver’s seat with its revolutionary on-location vehicle maintenance and repair services. But that’s just the beginning. This 10-week equity-free accelerator programme is packed with incredible opportunities, including access to Google’s AI expertise, technical resources, mentorship from industry giants, and networking opportunities that will connect them with the who’s who of African tech.

But what makes this programme truly explosive is that it’s not just about the tech; it’s about the people. The selected start-ups represent the future of African innovation, harnessing the power of technology to solve real-world problems and uplift their communities. And Folarin Aiyegbusi, head of start-ups programmes for Google in Africa, says it best: “These start-ups represent the future of African innovation… We are committed to supporting these founders by providing them with the resources and mentorship they need to succeed and scale their solutions.”

From July 29 to September 20, these 10 start-ups will engage in intense technical workshops, business strategy sessions, and leadership development training to refine their products and elevate their game. And when they’re done, they’ll be battle-ready to secure funding from Google’s global network of investors. The future of African tech is brighter than ever, and these start-ups are leading the charge!

So, meet the 10 start-ups that are about to take the African tech scene by storm:

1. Fixxr (South Africa): Revolutionizing the auto industry with on-location vehicle maintenance and repair services.
2. CDIAL AI (Nigeria): Transforming multilingual communication with artificial and collective intelligence.
3. Earthbond (Nigeria): Empowering renewable energy solutions and carbon accounting for Africa.
4. Lifesten Health (Rwanda): Innovating health and wellness through digital screening and incentive-based programmes.
5. MyAIFactchecker (Nigeria): Unleashing an AI-powered tool to combat misinformation and promote informed decision-making.
6. Nakili (Kenya): Bridging the gap between salons, barbershops, and spas with a mobile-based app for streamlined management.
7. NextCounsel (Nigeria): Supercharging attorneys’ productivity with AI-powered contract management and solicitor engagement.
8. Nobuk Africa (Kenya): Simplifying financial management for groups and collectives across Africa with seamless payment solutions.
9. Rana Energy (Nigeria): Providing clean, reliable energy solutions to SMEs and communities through data-driven innovation.
10. Triply (Kenya): Building Africa’s travel operating system and connecting travellers with seamless booking experiences.

Get ready for the most electrifying start-up saga in Africa!

MTN: The Nigerian Nightmare

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It’s no surprise that MTN is bleeding money in Nigeria, a country that’s notorious for its toxic business environment. The company’s latest financial report reveals a whopping loss of ₦519.1-billion (R5.7-billion) in the first half of its 2024 financial year. Yeah, you read that right – that’s a loss, not a profit!

Despite CEO Karl Toriola’s attempts to spin the story, the numbers are a clear indication of the chaos that’s unfolding in Nigeria. The country’s economy is a ticking time bomb, and MTN is right in the crosshairs. With inflation raging at 34.2%, the naira plunging against the dollar, and painful economic reforms driving up costs, it’s no wonder MTN is struggling to stay afloat.

But here’s the kicker – despite the challenges, MTN still managed to deliver service revenue growth of 32.6% in the first half. That’s some impressive stuff, especially considering the headwinds it’s facing. Data and fintech services are driving growth, and the company’s digital business is booming.

However, all this growth comes at a cost. Operating expenditure has more than doubled due to depreciation, higher energy costs, and VAT on tower leases. And don’t even get me started on the forex losses – a whopping ₦887.7-billion, up 95% from the same period last year.

MTN’s share price is taking a hit, down 0.2% on the day and 27% over the past three years. Principal rival Vodacom Group is faring no better, down 23% over the same period. It’s clear that the pressures facing telecoms operators in South Africa and across the continent are mounting.

So what’s the solution? For starters, MTN needs to focus on accelerating earnings recovery, strengthening its balance sheet, and restoring its net asset position. And regulators, listen up – it’s time to approve those consumer price increases and support the long-term sustainability of the industry.

[Image description: A stock image of a broken egg with a caption that reads "Nigeria’s economy is breaking MTN"]

In conclusion, MTN’s latest financial report is a stark reminder of the challenges facing telecoms operators in Nigeria. It’s a tough nut to crack, but the company must continue to adapt and innovate to survive.

The timid CFOs who cling to outdated methods are doomed to be left in the dust, while the bold and visionary leaders who harness the power of AI and automation will revolutionize their companies and leave the competition in their wake.