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Johannesburg - The suspended chief financial officer of Telkom SA has repaid a R6m loan that a government watchdog said violated company law, the fixed-line operator said on Monday.
Telkom said last year that it loaned Jacques Schindehutte nearly R6m to purchase Telkom shares, which the Companies and Intellectual Property Commission has since found to be in violation of sections of the country's company law.
As a result, Telkom's chief executive, Sipho Maseko, will be required to attend a corporate governance course, the company said.
Schindehutte was suspended last year over allegations of personal misconduct, which the company has said are not related to the loan.
Telkom said last year that it loaned Jacques Schindehutte nearly R6m to purchase Telkom shares, which the Companies and Intellectual Property Commission has since found to be in violation of sections of the country's company law.
As a result, Telkom's chief executive, Sipho Maseko, will be required to attend a corporate governance course, the company said.
Schindehutte was suspended last year over allegations of personal misconduct, which the company has said are not related to the loan.
