Richest telecoms executives revealed

"The Elephant Consortium, lead by former director-general of the Department of Communications Andile Ngcaba, owns R 5.058 Billion in Telkom investments."

Is it just me or does this sound fishy?? :confused:
 
Ivy = R????????????????????????????????????????
 
incaseofire said:
"The Elephant Consortium, lead by former director-general of the Department of Communications Andile Ngcaba, owns R 5.058 Billion in Telkom investments."

Is it just me or does this sound fishy?? :confused:
Click to expand...

No it's not just you...and this doesn't just sound fishy, it's blatantly rotten!
 
incaseofire said:
"The Elephant Consortium, lead by former director-general of the Department of Communications Andile Ngcaba, owns R 5.058 Billion in Telkom investments."

Is it just me or does this sound fishy?? :confused:
Click to expand...

It sounds extremely fishy because the article is about the wealth of individuals. Throwing in the value of the Elephant's Consortium's holding in Telkom is completely out of place with the rest of the list.

The Elephant Consortium had to secure financing from Absa and Nedbank to purchase the stake. The Consortium has a very large number of stakeholders and beneficiaries (running into the hundreds of thousands). Given the current price of Telkom shares, the debt incurred and interest charges, members of the consortium are probably not doing that well, given the risk they are taking on board. If they had bought a stake in any other of the Top 40 JSE shares instead they would have done considerably better.

Without going into the ethics of the PIC-Elephant consortium deal, which is another topic entirely, inclusion of the Elephant Consortium in Sunday Times Rich List is an extremely fishy editorial decision indeed. Mischievous even.
 
Could we perhaps somewhere get an equivalent list of rich Parlementarians? It could make interesting reading when correlated to their decisions. While we are about it, how about a list of Government officials?
 
pimal3 said:
Could we perhaps somewhere get an equivalent list of rich Parlementarians? It could make interesting reading when correlated to their decisions. While we are about it, how about a list of Government officials?
Click to expand...
A list of politicians that have `renamed´ themselves (like the street and town names) on share listings to evade detection.
 
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