FEATURE : TELECOM
3 % for the period from 2018 to 2022 . These companies make up 20 % of the survey sample , but they generated 32 % of the total value .
# 2 Large national players
At 6 %, the median annualised five-year total shareholder return for these firms is slightly lower than that of global players , but it still represents an improvement on the five-year mark of 3 % posted last year . Large national players account for more than one-third of the companies in the study , and they created $ 267 billion in value , roughly half of the sector total .
# 3 Smaller players
The five-year median annualised total shareholder return for these companies is the lowest of the four segments at 3 %, showing a slight improvement from last year ’ s 2 %. Although they represent 36 % of the companies in the sample , their value generation of $ 33 billion is just 6 % of the total .
# 4 Infrastructure players
These companies manage infrastructure for other carriers and the six infrastructure companies analysed had a median annualised five-year total shareholder return of 10 %. This is the highest of the four archetypes but down from 12 % in 2022 . Although the six infrastructure companies in the study amount to just 10 % of the total , they generated $ 89 billion , 16 % of the sector ’ s total net value .
MTN which was included in the survey , ranks 16th on the list of the Top 20 Telcos by five-year annualised total shareholder return globally , the only South African listed company to do so .
MTN fits into the global telecom archetype , and although global telcos have relied on different
Kitso Lemo , Associate Director , BCG Johannesburg
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