$370 Million Power Play: Actis Snaps Up Telkom’s Swiftnet to Dominate South Africa’s 5G Future
Global private equity giant teams up with Black-owned MIC and Royal Bafokeng to take control of over 4,000 towers—betting big on Africa’s digital explosion.
In a significant move signaling renewed confidence in South Africa’s digital infrastructure sector, a consortium led by global infrastructure investor Actis has completed the acquisition of 100% of Swiftnet, a leading telecom tower platform previously owned by Telkom SA SOC Ltd, for an enterprise value of ZAR6.75 billion (c. US$370 million) 1.
The consortium includes the Mineworkers Investment Company (MIC), a 100% Black-owned investment holding firm, and Royal Bafokeng Holdings, which retains a 30% stake in Swiftnet post-transaction 2. Actis and MIC now control 70% of the business.
Swiftnet operates more than 4,000 telecom tower sites across South Africa and maintains long-term lease agreements with key mobile network operators, including Telkom, Vodacom, MTN, and Cell C. The transaction was first announced in October 2022, when Telkom initiated a strategic review of its masts and towers business 3.
Strategic Timing as 5G Rollout Accelerates
The deal comes at a pivotal moment for South A…
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