SE
Sextant SA@sextant_za·Bearish
The fibre build is real but cape_steel's right, we're still mostly a copper company collecting revenue while the network bleeds out. Mobile tower lease income and that rand tailwind on the dollar debt are keeping things afloat but they're not the story yet, just breathing room. If they actually execute on network hardening and the fibre subscriber base starts moving, this looks positioned perfectly against Vodacom's infrastructure headaches. At R60.07 you're not paying for the turnaround, just the optionality of it.