Sizwe Nxasana

[YouKnowThis]

Ok,some people are connected,and then there's Sizwe.
Recommend this link: (did a google on our friendly sir and the following small site came up.its completely objective and i imagine quite honest.however after visiting sars.co.za and rand merchant bank's site i found no mention of him.worth a look though guys.Always good to know just how many pies someone has their fingers in)

http://www0.gsb.columbia.edu/students/organizations/bbsa/conference/bios/bio_nxasana.htm

 

[Debbie]

Many many pies. Wonder which is his next one post-Telkom?

 

[nOhIwAy]

Did you know that degrees from HareFort are not recognized
in many countries ??

 

[BloemGuy]

Did you know that degrees from HareFort are not recognized
in many countries ??

Not surprising, but nothing out of the ordinary either. Most South African university degrees are not recognised widely...

 

[BloemGuy]

Ok,some people are connected,and then there's Sizwe.

Indeed, and some connections work magic:

http://www.telkom.co.za/minisites/ir/sens/sensarticle_155.html

Director's dealing in Telkom SA Limited securities
In terms of Section 3.63 - 3.74 of the JSE Securities Exchange South Africa Listings Requirements please note the following:

Name of Director: Sizwe Nxasana
Number of Securities: 12,328
Class of Security: Ordinary
Nature of Interest: Direct, beneficial
Nature of Transaction: Allocation
Date: 22 July 2005
Price: R 112.10
Vesting date: June 2008
Shareholding: The shares allocated represent Mr Nxasana's conditional shares awarded to him in terms of the Telkom Conditional Share Plan, for the 2004/05 financial year. This allocation is also based on Telkom having achieved all its financial targets as measured in the Team Award for the 2004/05 financial year.

By the way, he's made R167000 gain on these shares since 2 weeks ago based on the current share price.

 

[Highflyer_GP]

Not surprising, but nothing out of the ordinary either. Most South African university degrees are not recognised widely...

yeah. as far as i know only Wits University and University of Cape Town are recognised world-wide

 

[Debbie]

I think Stellenbosche and Natal, as well as certain UNISA degrees are well known. UNISA is the world's largest correspondence university (it may be the second largest now). UNISA is also known overseas as many of the Robben Island prisoners gained UNISA degrees while in prison - giving UNISA quite a bit of exposure. Oh yeah, and I think Rhodes for their journalism are well recognised.

But definitely Cape Town and Wits are the two best know, prob Wits a little more so due to the anthropology department's glories stretching back to the 1930s. This is not to say, however that Wits is better than Cape Town or any other SA university, only that it is better known internationally.

 

[YouKnowThis]

The university degree argument doesnt really stand for much any more. There are plenty of success stories involving people with only high-school qualifications (I'm not saying they're honest success stories, just that it is becoming more common than not). Don't forget(and I really am not trying to stir this one) that telkom is a BE company.

What is curious is that he is a director for Vodacom group.
How can he sit in such high positions for two telecoms companies in competition(although vodacom is a cellular provider, we only have one Telephone company,making them a viable option in the choice for communications services). Don't we have some sort of legislation preventing this?
Ideally he could price fix one company in order to boost another, cut back on advertising for a succesful branch and increase it for one that's struggling. Having such influence in a market is surely something worth investigating.

In the ICASA statement telkom even aknowledges vodacom as being a competition:

"In general, telkom emphasised that it is not the only telecommunications operator offering broadband service, as there are operators like SENTECH ("My wireless"), WBS ("Burst") and VODACOM (3G) also involved in this market."
-item 3 ,pp 6

If they consider vodacom as competition for broadband, do they not consider them competition as a telephone company? And if they do, one needs to seriously investigate how Mr Nxasana got himself into such a position.

Also, I think we all agree that as telkom is the only LAND-LINE provider in our country they hold 100% of the market and can be classified as a monopoly. That goes without saying really. But if Mr Nxasana owns the company that has this position and is simultaneoulsy involved in one of only 3 Cellphone providers, that means in a market of 4 Telephone (cellphone and landline) companies, he is involved in 50%.