TKG's stuck between fiber rollout capex and mobile competition from Vodacom, ngl. At R60.59 the dividend yield is decent but cash generation's under pressure with all the infrastructure spend. Reckon it's a hold for income players but growth story's thin unless they actually win back market share in mobile.
The fixed-line bleed is real but fibre capex is the play that actually matters here, same bet Vodacom made years back and it's paying off for them now. Mobile margin compression stings short term ja, but if enterprise actually stabilizes and they stop losing copper customers to load-shedding chaos, the cash flow picture changes. R60 range doesn't scare me for a five year hold, positioned perfectly for when infrastructure finally stops being a drag and starts being an asset.