Telkom Group, a South African mobile network provider, said that its wholesale network infrastructure business, OpenServe, will become a separate company from the Group.
Following the conclusion of a balance sheet &asset allocation process, Telkom disclosed this information in its financial statements for the first quarter of 2023. The separation will take place on September 1, 2022.
When asked about the split, Telkom Group CEO Serame Taukobong noted that the Group has been on a mission to restructure and unlock value by splitting its operating companies into standalone organizations.
This separation began with the Group’s faltering IT enterprise services sector, BCX, and was followed by the division of the Group’s real estate and property business, Gyro. Both firms are currently operating as independent legal entities that are owned in their entirety by Telkom.
The Telkom Group has also established Openserve as a completely owned subsidiary of the company. Which will push and promote independence and market visibility,” he said
According to OpenServe CEO Althon Beukes, “Since the launch of Openserve in 2015,” the company has experienced have made tremendous progress toward laying the groundwork for our future success by emphasizing the introduction of novel products and services.” creating a differentiated client experience by providing outstanding encounters through our frontline workers and utilizing our unique digital platforms,”
Openserve is planned to serve as the landing station partner for Google’s large Equiano undersea cable system, which is being created to extend from western Europe, down Africa’s west coast to its eventual endpoint in Melkbosstrand, South Africa as reported by ITNewsAfrica.