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Telkom SA Ltd was established in 1991, when the South African telecommunications operations of the Department of Posts and Telecommunications were hived off as a separate entity. The state then, in a move to liberalise the South African telecommunications market, sold 30% of the company’s equity to Thintana Corporation in May 1997 and another 3% to Ucingo Investments. In March 2003, the company went public through the issue of 154.2 million of the company’s common stock. However, Telkom remains a state-controlled subsidiary.
Telkom, the largest provider of integrated communications services in South Africa, offers fixed-line voice and data services to residential and business customers. The company also offers mobile telecommunication services through Vodacom, a joint venture between Telkom (50%), Vodafone Group (35%), and VenFin Ltd (15%). Through Vodacom, the company provides mobile services in South Africa and other African countries including Tanzania, Lesotho, Democratic Republic of Congo (DRC), and Mozambique. Directory services are provided through Telkom Directory Services (TDS), a subsidiary in which Telkom has a 64.9% shareholding. Wireless data services are provided through a wholly-owned subsidiary, Swiftnet. In addition, Telkom provides customer premises equipment (CPE) including telephones, private branch exchange systems (PABX), and other post-sale services to customers across South Africa.
As of January 2005, the Government of the Republic of South Africa was the majority shareholder of Telkom with 37.7% of total shares. Other major shareholders are Public Investment Corporation (PIC) (15.1%) and Telkom subsidiaries (4.2%), while the remaining 43.0% of the shares are freefloat.
