Infraco receives bailout, qualified audit

with many private companies planting their own fibre, plus municipalities laying fibre with excess bandwidth all using the latest equipment, is infraco's old kit of any interest?
 
Already a bailout and they haven't produced anything yet. Awesome.
 
As usual, we all had high hopes that Broadband Infraco would deliver on all their hot air promises and as usual we were once again burned by another State sponsored debacle. When are they going to learn? How many more tax payer Billions must be wasted on these black hole companies? A few useless BEE appointed clueless CEOs get enriched, and eventually the government pulls the plug on the whole stupid project and nobody ever gets reprimanded and not a cent of the tax payers money is ever recovered. Makes me spitting mad and sick to the stomach.
 
Garyvdh said:
As usual, we all had high hopes that Broadband Infraco would deliver on all their hot air promises and as usual we were once again burned by another State sponsored debacle. When are they going to learn? How many more tax payer Billions must be wasted on these black hole companies? A few useless BEE appointed clueless CEOs get enriched, and eventually the government pulls the plug on the whole stupid project and nobody ever gets reprimanded and not a cent of the tax payers money is ever recovered. Makes me spitting mad and sick to the stomach.
Click to expand...

So true, Infraco is completely useless...I remember the news postings with all their great promises and they haven't even achieved to do anything at all, pathetic.
 
In a market where you could make billions of rands of profits selling bandwidth these idiots go and make a 207 Bar loss???

That takes something special you have to admit... I mean put any other non-government telecoms company in its place and they would have posted a 207 Bar profit???

Shocking to say the least...
 
moosag said:
In a market where you could make billions of rands of profits selling bandwidth these idiots go and make a 207 Bar loss???

That takes something special you have to admit... I mean put any other non-government telecoms company in its place and they would have posted a 207 Bar profit???

Shocking to say the least...
Click to expand...

that's not how it works.
first you milk it dry, then you cut it up and sell off the meat.
you seem to be misguided about the core purpose of government enterprises.
 
This company shouldn't exist. All it's assets should be given to Neotel.
 
Qwikslver said:
This company shouldn't exist. All it's assets should be given to Neotel.
Click to expand...

+1. IIRC, it was part of Neotel's license agreement that they would be able to buy all of Transnet/Transtel/Eskom/whatever's fibre infrastructure. However, this was changed after Neotel was launched, Infraco was set up, and Neotel were told they would get preferred/exclusive treatment from Infraco for a preiod of time.

Can anyone confirm the above? If I were Neotel, I would have objected, and taken government to court, for changing the license conditions. Just shows how useless Neotel were - even their legal/regulatory department was sleeping. Still, they would have defiinitely done a better job than government. At least break even, instead of throwing 100s of millions away.
 
Infraco is an extremely successful company. They have managed to make a ton of tenderpreneurs rich... :sick:

I am also sure the the managers have brilliant salaries.
 
First the audit report saying their executives are having a 'feeding frenzy' .. and now the bailout. Why am I not surprised?
Redistribution of wealth is happening, just not the way you and I thought it would.
 
You know what? In as far as I am allowed to say such things in this forum... (I don't mind if the comment is removed if it is deemed inappropriate)

All I want to say is... **** Broadband Infraco. I have rarely been as disappointed in my life.
 
The Trutherizer said:
You know what? In as far as I am allowed to say such things in this forum... (I don't mind if the comment is removed if it is deemed inappropriate)

All I want to say is... F|_|CK Broadband Infraco. I have rarely been as disappointed in my life.
Click to expand...
And I would like to add,
F|_|CK icasa,
F|_|CK DoC,
F|_|CK ANC,

and F|_|CK this swearing filter.
 
'Malusi Gigaba' needs to get Infraco to sell a few 'gigabytes'
 
Species8472 said:
Infraco is an extremely successful company. They have managed to make a ton of tenderpreneurs rich... :sick:
I am also sure the the managers have brilliant salaries.
Click to expand...

I have to admit that seems to have been the objective all along. It's another Multi Links type debacle.
Then they get to start over from scratch as if nothing happened, 'cause it's not their money!
 
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