Calling the shots
SIKONATHI MANTSHANTSHA: Telkom delivers without government interference
If this kind of statistic does not teach our esteemed leaders who is more competent and better suited to control 'the means of production' and the 'commanding heights of the economy', then nothing will
Hidden in the deluge of shocking leaked Gupta e-mails and economic data that hit the market this week was a gem of a statistic from a former telecommunications pariah. The performance of Telkom — a company almost run into the ground by senseless interference and apparent corruption while under the stewardship of former communications minister Dina Pule — was the sole piece of good news to come out of Pretoria this week. On the first Monday of July, Telkom will deposit a cheque of R481.69m into national treasury’s account. It is quite unusual for government to receive dividends from the many "investments" it holds on behalf of taxpayers. In fact, for the past decade it is government that has been throwing money into the deep, dark holes that state-owned companies have become.Yet the Telkom dividend is the second tranche that treasury will bank in the financial year ended March. Last year, for the first time in recent memory, Telkom paid an interim dividend of 131.23c/share. That tran...
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