It's to do with peering, and yes, it is Telkom's fault.
MWEB said that they were not going to pay local ISPs /networks providers for them to connect to their networks. I think everyone except SAIX have agreed to this.
This is great for them as there is now very little cost for the local traffic.
You're obviously playing COD4 on SAIX servers and for the traffic to go to SAIX it has to first leave the country and then come back in to the country.
I have EXCELLENT service with MWEB Uncapped. <40ms pings to the MWEB game servers / WebAfrica servers from Port Elizabeth.
If you want to complain, complain to Telkom and tell them to get in the 21st century.
On another note, over the past week or so my torrents were downloading at a maximum of 10kB/s. I thought this was very weird and was about to complain here about it but wasn't sure if they'd help out with torrents.
Just by accident last night while trying to change the uTorrent ports, I found that it had a 10kB/s download speed cap enabled... /facepalm
Disabled that and went back to 100-200kB/s