In South Africa, Telkom has completed the $459 million sale of Swiftnet, its masts and towers business, to a consortium led by Actis and Royal Bafokeng Holdings. Actis holds a 70% stake in Towerco Bidco Proprietary Limited, while Royal Bafokeng Holdings owns 30%.
The deal was finalised after Telkom confirmed that all conditions had been met. Regulatory bodies, including the Competition Tribunal and ICASA, approved the sale last year, although the competition regulator attached undisclosed conditions.
Telkom will utilise part of the proceeds to reduce debt and strengthen its balance sheet. CEO Serame Taukobong characterised the sale as a milestone, noting it aligns with Telkom’s data-led strategy and reinforces its position as South Africa’s digital backbone. Swiftnet, which had around 4,000 masts and towers, was a significant asset, but Telkom is now concentrating on core operations in its OneTelkom vision.
“This sale improves our financial standing, allowing us to invest in next-generation technology infrastructure,” Taukobong said. “We are also optimising our asset portfolio by divesting non-core properties.” The acquisition follows Actis’s recent exit from Octotel, a fibre network operator it had invested in for $128 million in 2020. In March, a consortium led by African Infrastructure Investment Managers announced that it had acquired Octotel from Actis for an undisclosed sum.
With this transaction complete, Telkom is well-positioned to accelerate its digital and connectivity ambitions while Actis continues strengthening its presence in infrastructure investments.
