South Africa aims to replicate Telkom’s success with property firm

Brightconsumer 3 hours ago

A new company will just be another SOE to loot, and can the honorable minister also tell us what exactly himself and the department of public works will then be doing?

  10   2 Log in to Reply   zarro 19 minutes ago

Exactly, that always seems to happen in South Africa, privatize and the public entity that use to be responsible simply gets bigger. Look at Eskom went from generating 96% of the country’s power down to 80% in the last 20 years but its staff complement has doubled in the same period.

  1 Log in to Reply   zarro 19 minutes ago

Exactly, that always seems to happen in South Africa, privatize and the public entity that use to be responsible simply gets bigger. Look at Eskom went from generating 96% of the country’s power down to 80% in the last 20 years but its staff complement has doubled in the same period.

  1 Log in to Reply   brett.fuller 3 hours ago

We all know why Telkom is doing so well. It was semi-privatized in 1997.

Telkom was partially privatized in 1997 when the South African government sold a 30% equity stake to the Thintana Communications consortium, which was formed by SBC Communications (from the US) and Telekom Malaysia. The process was followed by a listing on the Johannesburg Stock Exchange in 2003, allowing public investors to acquire shares. The government retains a major shareholding in the company today. Government only owns 40.5%.

This means no tender fraud, no cadre deployment and legitimate JSE led oversight of the financials.

  10 Log in to Reply   MoneywebUser999901 2 hours ago

If the property company is listed, it too needs to be transparent

  2 Log in to Reply   MoneywebUser999901 2 hours ago

If the property company is listed, it too needs to be transparent

  2 Log in to Reply   Kevinn 2 hours ago

actually Thintana, gamed the system by using its telecommunications monopoly to hold all South Africans ransom with high prices and governments lack of knowledge to rip them off financially.

  2 Log in to Reply   2cents 1 hour ago

Performance will be through the roof with free land from expropriation without compensation

  2   1 Log in to Reply