CEO Sipho Maseko says that with an equity partner and selling off some properties the tower business can be scaled up quicklyTelkom Group CEO Sipho Maseko addresses the company's annual results presentation in Centurion. Picture: FREDDY MAVUNDA
The company may also sell some of its 1,332 properties to raise cash for the project, CEO Sipho Maseko said on Monday. “We expect that with an equity partner and selling off some of the properties that are not core and that we are not using anymore we can scale our tower business quite quickly,” he said after Telkom reported full-year results.The book value of the company’s property portfolio is between R10bn and R12bn, the CEO said.
Telecommunication towers are used by mobile-phone operators to extend coverage and offer high-speed data services such as 4G and 5G.“With SAa getting ready to roll out 5G there will be a lot more towers required,” Maseko said. “And the Gyro team is well placed to capitalise on that.”
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