• A burning issue

    The Knysna fires have shown that SA needs to be fire-aware and wary, says Mandi Smallhorne.

  • True economic freedom

    Harping on inequality and repressive rich people deflects attention from the real issues, say analysts.

  • Terry Bell's Inside Labour

    A winter of discontent looms as public sector unions gear up for pay and benefit talks.

All data is delayed
Loading...
See More

New Telkom chair takes on government

Nov 20 2012 10:28
Sapa

Company Data

TELKOM SA SOC LIMITED [JSE:TKG]

Last traded 64
Change -1
% Change -2
Cumulative volume 2822137
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Sharp drop in Telkom profits

Telkom strengthens board

Telkom warns on profits

PIC: Stability needed at Telkom

Privatise Telkom, urges DA

Telkom picks hotel exec as chairperson

 
Johannesburg - New Telkom [JSE:TKG] board chairperson Jabulane Mabuza believes that the government, its shareholder, cannot determine its strategy, Business Day reported on Tuesday.

"The day shareholders give you a strategy, they may as well come and run the business," he was quoted as saying.

"I don't see the government as a shareholder any differently to the other shareholders."

This was in stark contrast to the government's plans to impose a new blueprint on the parastatal, according to the newspaper.

The government devised policies that informed Telkom's strategy, Mabuza said.

The government is the JSE-listed company's largest shareholder with 39.8%. The Public Investment Corporation owns a 10.9% stake in Telkom.

Mabuza said cabinet could not impose strategy on a listed company.

"It cannot work that way. Government, as a shareholder, has a forum that it can use to persuade other shareholders," he told Business Day.

Mabuza was appointed on Friday and had to develop strategies that would be sold to shareholders. He believes Telkom can strike a balance between meeting the government's socioeconomic goals and the public sector's needs.

       


 
telkom

NEXT ON FIN24X

Behind the sparkle

2017-06-06 10:23

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
4 comments
Comments have been closed for this article.
 

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

WhatsApp group admins in SA could face jail time their jobs

Previous results · Suggest a vote

Loading...