Eighteen months after Cyril Ramaphosa ordered a probe into alleged corruption at Telkom, the high court has set the proclamation aside.
Maladministration in the affairs of Telkom in relation to the sale or disposal of Multi-Links Telecommunications, a company it acquired in Nigeria in 2006 that subsequently failed, and iWayAfrica and Africa Online Mauritius;Advisory services in respect of the broadband and mobile strategy of Telkom and payment made in a manner that was not fair, equitable, transparent or cost-effective, or contrary to applicable legislation or national treasury or Telkom rules.
Telkom’s Nigerian foray proved to be a disastrous attempt by the company to enter the lucrative West African market at a time when it was seen as the next big opportunity in telecoms on the continent. Former Telkom CEO Nombulelo Moholi admitted in June 2012 that the telecoms group had made a hash of its investments elsewhere in Africa. “A lot of the investments we made we shouldn’t have made,” she said then.The group’s investment in Multi-Links turned into a financial disaster. It was estimated that the operator lost at least R10-billion through that investment, before being forced to cut its losses and run.
Meanwhile, Ramaphosa’s instruction to the SIU to probe tenders related to telegraph services likely related to a disputed tender first issued in 2007.Phuthuma Networks, led by businessman Ed Scott, took Telkom to court and various regulatory bodies over the disputed tender, published in November 2007, for the outsourcing of Telkom’s telex services, including support for ship-to-shore telex.
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