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Thread: Broadband Infraco boost

  1. #1

    Default Broadband Infraco boost

    Broadband Infraco boost

    State-owned Broadband Infraco, which has operated under its new name for the last eight months, posted an operating profit of R18.7 million for 2007/08 but would have reported a R35.6 million operating loss if interest income of R61.4 million was not included, chairman Andrew Mthembu and acting chief executive David Smith have reported to parliament.

  2. #2
    Super Grandmaster smokey's Avatar
    Join Date
    Dec 2007


    thats a novel idea. put your money in a high interest bearing account and make money that way. brilliant. a government co pany looking to make as large a profit as possible. no spending - why would they *cringe*

  3. #3
    Super Grandmaster ToxicBunny's Avatar
    Join Date
    Apr 2006


    Wait.. why the hell are Infraco posting profits etc etc....

    Being a parastatal they should be plowing the profits back into the business to improve the infrastructure.... and interest income?... We as a public need to be demanding an explanation of why that money is not being utilised to deploy infrastructure.
    Quote Originally Posted by Korn1 View Post
    I have been called a retard my whole life

  4. #4
    Senior Member
    Join Date
    Mar 2005
    West Rand


    So I guess now that the Directors will get hefty bonuses just because they put the money in the bank and earned interest.

  5. #5


    There are many reasons why they would park the money somewhere for a bit. e.g. They get the money now but only need to pay the contractor later when the work is done.
    Man walks down the street in that hat, people know he's not afraid of anything.

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