File: Telkom will offer business loans and digital wallet services.
JOHANNESBURG - Telkom is entering the financial services market.
It's targetting over 11 million South Africans who do not have bank accounts.
Its fixed-line service will remain the core of the business.
READ: Telkom profits down 66%
That business currently contributes over 20 percent of the group's revenue.
In 2013, it contributed over 50 percent.
The partly state-owned enterprise will offer business loans and digital wallet services.
A few weeks ago, Telkom transformed its 70-year-old Yellow Pages business into an online marketplace targeting SMEs which it named Yep.