Telkom chairman Jabu Mabuza has promised that the telecoms company will become an “even more evolved business” over the next 18 months, following Telkom’s AGM this week.
According to a report by the Sunday Times, Mabuza said a three-year restructuring plan was nearing completion.
Telkom is ready to enter a “transformation and growth phase”, stated the report – changing it from a “limping, cash-draining enterprise”.
Telkom CEO Sipho Maseko said the growth would focus on how the company leads in technology.
“This would include a short pilot project to test super-speed 5G technology. He did not provide a time frame,” stated the report.
A large investment in cloud computing is also due to be announced.
The report stated that since Maseko took control of Telkom three years ago, the company has reducd staff numbers by almost 5,000 and increased operating revenue and earnings to show double-digit growth.
“We’ll also be revealing at some point an operating model that will be taking us forward,” said Maseko.
He added that the company was also considering acquisitions.
“We have quite a few on the table, broadly on the information technology side, on the digital side, and other sectors that will fascinate the market.”
The full report is in the Sunday Times of 28 August 2016.
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