Telkom beats expectations

Africa's biggest telecoms company, Telkom, beat expectations with a 36 percent rise in annual headline earnings per share thanks to a leaner wage bill and strong growth at its mobile unit Vodacom. Engineering News reports that Chief Executive Papi Molotsane said Telkom had sharpened its strategy to focus on new technologies and boost broadband Internet penetration. Telkom has so far failed to deliver on plans to buy an IT company to beef up its data business and to expand outside South Africa. Molotsane added that Telkom was still looking at opportunities to expand in the rest of Africa but that nothing was on the table.