Commercial property boom in South Africa
Commercial property in South Africa is rebounding strongly, offering high yields, longer leases, and low vacancies, but experts caution that successful investing involves weighing a number of factors.
Earnings before interest, tax, depreciation and amortization (EBITDA), came in at 2.8 billion rand ($155.62 million) in the first quarter ended June 30, South Africa's third-largest telecom company said in a statement.
Overall group revenue rose 1.1% to 10.82 billion rand with mobile service revenue and Openserve’s fiber data revenue up 7.8% and 11.3%, respectively.
Telkom said mobile data subscribers rose 27.5% to 17.2 million, while there was a 17.5% increase in the number of homes connected with fiber.
The majority state-owned company has been investing in migrating customers away from copper-based technology to offerings such as fiber and long-term evolution – a 4G wireless standard – as customers seek faster internet services.
