http://www.finance24.com/Finance/Companies/0,,1518-24_1620141,00.html
Reject Telkom deal, asks DA
12/11/2004 10:25 - (SA)
Cape Town - The official opposition Democratic Alliance (DA) has urged Communications Minister Ivy Matsepe-Casaburri to reject any "crony capital deals" such as that involving the purchase of 15.1% held by Thintana in the monopoly fixed line company, Telkom.
DA MP Enyinna Nkem-Abonta said the transfer of equity to a well-connected few at the expense of ordinary South Africans had become the empowerment pattern under the government's black economic empowerment policies.
He was referring to the possible sale of the holding to a consortium which includes former Communications Director General Andile Ngcaba.
"Here crony capitalism has been taken to new levels. The deal includes Smuts Ngonyama who is an active official of the ruling party and Ngcaba who has only just recently vacated the post of director general."
In addition the consortium would be entitled - if it purchased the holding - to appoint two members to the Telkom board.
"It is not as though an alternative without the burden of the ANC heavyweights was not on the table. The DA proposed a people's consortium which could have included beneficiaries numbering in the millions through stokvels and burial societies.
"The minister should reject crony capital deals and go for real broad based black empowerment," he said in a motion to the National Assembly on Friday.
<b><hr noshade size="1"></b><font size="2"><font color="red"><b>You can take Telkom out of the Post Office but you can't take the Post Office out of Telkom.</b></font id="red"></font id="size2">
Reject Telkom deal, asks DA
12/11/2004 10:25 - (SA)
Cape Town - The official opposition Democratic Alliance (DA) has urged Communications Minister Ivy Matsepe-Casaburri to reject any "crony capital deals" such as that involving the purchase of 15.1% held by Thintana in the monopoly fixed line company, Telkom.
DA MP Enyinna Nkem-Abonta said the transfer of equity to a well-connected few at the expense of ordinary South Africans had become the empowerment pattern under the government's black economic empowerment policies.
He was referring to the possible sale of the holding to a consortium which includes former Communications Director General Andile Ngcaba.
"Here crony capitalism has been taken to new levels. The deal includes Smuts Ngonyama who is an active official of the ruling party and Ngcaba who has only just recently vacated the post of director general."
In addition the consortium would be entitled - if it purchased the holding - to appoint two members to the Telkom board.
"It is not as though an alternative without the burden of the ANC heavyweights was not on the table. The DA proposed a people's consortium which could have included beneficiaries numbering in the millions through stokvels and burial societies.
"The minister should reject crony capital deals and go for real broad based black empowerment," he said in a motion to the National Assembly on Friday.
<b><hr noshade size="1"></b><font size="2"><font color="red"><b>You can take Telkom out of the Post Office but you can't take the Post Office out of Telkom.</b></font id="red"></font id="size2">
