In Johannesburg, South Africa, on November 21, 2023, a representative of Telkom’s masts and towers business, Swiftnet, arrives at a branch of the company’s mobile operator in the Trade Route Mall. The preferred bidder for the sale of Swiftnet is a consortium of equity investors, including a Black Economic Empowerment partner led and managed by a well-respected private equity firm. Telkom is reorganizing itself as an infrastructure company with the aim of driving strategic growth through the consolidation of its core assets. This process is expected to be completed by the end of 2025. Once the infrastructure company structure is established and the transition to masts and towers ownership is complete, Telkom will explore further opportunities to realize value, such as minority partnerships for Openserve and a strategic equity partner for BCX.