I think that this is a comment on the state of telecoms in South Africa. There is only really one company with the reach to connect you country-wide rather than just the major metropolitan area. I reckon it is going to takes years if not decades for the other guys to catch up...
The deal do make sense - as telkom have a proven infrastructure which it can leverage, and Neotel still have to prove its viability.
Banks need a dependable infrastructure they can trust, and the closest to the mark still is telkom. Maybe in a few months/years time this will change, but we'll have to wait and see.
As for the record, no I won't trust telkom.
I am sure their [telkom's] network is on the verge of a collapse... old equipment, no maintenance, so this will be fun to watch... So I do think Absa made a mistake choosing Telkom - they should have gone over to Neotel.