Telkom SA

Telkom SA, headquartered in Centurion, has emerged as a defining telecom force in Sub-Saharan Africa. With roughly 13k employees and revenues approaching $2B, the group keeps reinforcing its position through disciplined capital allocation and a long-term industrial vision.

The group's regional balance sheet allows it to invest counter-cyclically, an advantage few competitors can match in the current rate environment.

“Telkom SA is, in its category, exactly the kind of compounding regional champion the next decade of capital allocation will reward.”

The outlook remains constructive: order books, hiring patterns and capex guidance all point to a multi-year expansion phase.