Telkom is the largest telephone service provider. According to the Integrated Report of Telecom SA Soc Ltd for the year ended 31 March 2023 (p.6):  The South African Government owns 40.5% of Telkom. Institutional shareholders hold 44.6% of our shares, while non-institutional shareholders hold 9.4%. The remaining 5.5% are treasury shares. According to Section 3 (a) of Broadband Infraco Act,  the State becomes the sole shareholder and member of Infraco. See also: https://infraco.co.za/shareholders/