"Still $40 for 192K as Ngcaba takes Whitacre size earnings
Andile Ngcaba, recently Director-General of the Department of Communications, has emerged with a holding worth over $100M in Telkom. Smuts Ngonyama of the ANC also is receiving shares. Telkom reports a major jump in profits and a doubling of the dividend - as well as some of the highest broadband prices in any advanced nation. A black, green and yellow flag long flew over my desk, but this long time supporter of the ANC has to wonder if Telkom is doing its share for African development. Even Sizwe Nxasana, retiring chief executive of Telkom, said the group regularly came under fire about the cost of its data services, Leo Kok reports. It's $60 for a capped 512K service.
Telkom controls access to the Africa One fiber, setting prices for independent ISPs prohibitively high. The result is a country with 5M phone lines, over 3M computers, and only 67,000 broadband subscribers. Mother Africa deserves better."