Telkom South Africa has successfully completed the sale of its masts and towers business, Swiftnet, to a consortium led by Actis LLP and Royal Bafokeng Holdings. The deal, valued at approximately $370 million (ZAR 6.75 billion), involves the sale of about 4,000 telecom tower sites across the country. Telkom described the transaction as a key step in its transformation strategy, allowing the company to focus on its core operations while unlocking value from non-core assets. “The sale of Swiftnet’s portfolio of approximately 4,000 masts and towers marks a significant step in the implementation of Telkom’s transformative journey to focus on core operations while realizing value in non-core assets,” the statement said.
The Actis-led consortium, which includes international and local investors such as South Africa’s Mineworkers Investment Company (MIC), now owns 70% of Swiftnet, with the remaining 30% held by Royal Bafokeng Holdings. While Swiftnet claims a total of 6,200 towers, the sale covers 4,000 sites, with the company retaining around 1,200 towers. The per-tower price of $92,500 reflects a stable telecom tower market in South Africa. This price sits between the $72,500 per tower MTN received in 2022 for its 5,701 towers and the $134,375 per tower Cell C sold in 2011. The rise in tower prices signals increased demand for telecom infrastructure, driven by the growth in data consumption and the ongoing rollout of 4G and 5G technology.
Telkom said proceeds from the sale will be used to strengthen its balance sheet, reduce debt, and position the company for future growth. Telkom Group CEO Serame Taukobong hailed the transaction as an important milestone, reinforcing Telkom’s data-led growth strategy and strengthening its role as South Africa’s digital backbone. “This transaction enables us to pursue growth opportunities that align with our data-led growth strategy, strengthening our position as South Africa’s digital backbone,” he said.

The sale further emphasizes the ongoing industry shift toward the tower company model, where telecom operators divest infrastructure to specialized firms, allowing them to focus on core services while maximizing asset value. The new owners of Swiftnet plan to expand rural coverage and support the transition to 5G technology.
David Cooke, a partner at Actis, expressed confidence in the acquisition, stating, “It’s terrific to have completed the acquisition of Swiftnet, which we aim to establish as the leading independent Towerco in South Africa. The business benefits from great relationships with its anchor tenants and mobile network operators, which we plan to reinforce. It has all the ingredients to help bridge the need for tower densification and increased coverage to meet rapidly growing internet usage and demand, while further helping to unlock the potential of the South African digital economy by providing reliable and fast mobile connectivity.”
The acquisition positions Swiftnet to be central to the country’s expanding digital infrastructure, meeting the increasing demand for high-speed internet and next-generation mobile connectivity.