Ngonyama central in controversial dumping of Telkom shares

What are the implications here though, seems the forces-that-be are only upset because the shares where sold before they were permited (2010), other than that? Is Smuts Ngonyama not permited (due to his postion in gov.) to be involved in this? What other trouble could be on the horizon for these fella's? And how does it affect Telkom? They seem quiet!
 
Nothing new, the ANC's moral compass is screwed up and its all self enrichment at the expense of the masses, not just telecoms, its a viral disease and Thabo is also carrying it. Talk is cheap.
:sick:
 
HosstheBoss said:
What are the implications here though, seems the forces-that-be are only upset because the shares where sold before they were permited (2010), other than that? Is Smuts Ngonyama not permited (due to his postion in gov.) to be involved in this? What other trouble could be on the horizon for these fella's? And how does it affect Telkom? They seem quiet!
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You are missing the point. They are selling part of the shares that was kept by PIC and not paid for yet. They are selling to raise money to pay for the rest.

They are out to make millions without paying a cent for it.

Quoting Smuts Ngonyama: "I didn't join the struggle to stay poor".
 
Ugh. Thabo Mbeki really needs to make an executive decision stating that people in government are either in government or in business. They can't decide to straddle both like Smuts here.
 
Skip said:
Ugh. Thabo Mbeki really needs to make an executive decision stating that people in government are either in government or in business. They can't decide to straddle both like Smuts here.
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Agreed.

And this points to the trouble brewing with the Presidential Race why they cannot find a suitable candidate, as all the big wig ANC dudes like Ramaphosa, Tokyo etc are making it so big in business that a mere R1,5Million Salary to be President of South Africa is like Petty Cash for these guys.
And who wants all the flack that goes with the position of President, when the Private Sector is far more lucrative?

And to quote Smuts as he so elegantly put it.
"I didn't join the struggle to stay poor".
You are welcome to become as rich as a King Mr Smuts, just do not do so from Public Office where our Taxes are involved.:rolleyes:

And need we remind Mr Smuts that it is his Telkom and those Shares that is holding back South Africa's development.
Smuts should be thankful that a Company like Telkom even existed to Privatise in the first place, all thanks to the South African Public's Money over several decades of input.

I find it so distasteful that our Money that put the behemoth of Telkom on the map was cut up to enrich people in Public Office.
Who else in Public Office own Telkom Shares.
Where is that illusive Telkom Shareholder's List?
 
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That's it - BEE has got f*all to dom with black empowerment - it's about funding the ANC, it's hangers on and their ott lifestyles.

Rotten to the core. It's all gone.
 
If I remember correctly in many other countries eg Uk you have to renounce all business interests before taking up a Government Post. I'm almost sure SA had the same rule?
 
Another thief>:
To save time, I bet the editor has already formatted Monday's front page.

"Top ANC member XXXXX, working for goverment department XXXXX is suspected of corruption worth XXXXX rands.."
 
Getafix said:
You are missing the point. They are selling part of the shares that was kept by PIC and not paid for yet. They are selling to raise money to pay for the rest.

They are out to make millions without paying a cent for it.

Quoting Smuts Ngonyama: "I didn't join the struggle to stay poor".
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Not really, it's why I'm asking if thats the only reason, the implications (and I mean negative for Smuts) should be far greater, and not to mention Telkom, are they not responsible for the manner in which their shares are traded after all?
 
OMW that sounded extremely complex and heavily underhanded. this river runs much deeper I'm sure.
 
Outrageous! I would not blame folks who see this as a signal that this country is on its way out...

It is shocking, despicable, sad, troubling, worrying, mortifying etc.
 
Telcom site to see - for sore eyes

Try it,
read it,
share it..

http://www.hellkom.co.za/


"BEE doesn't stand as much for Black Economic Empowerment as it does for Blatant Extreme Enrichment."
 
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It is not clear how this deal was structured as the agreement with the PIC stipulates that no one is allowed to sell for another four years.
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And there it is.. the answer we all seek. When will this absurd protectionism end.. answer in 4 yrs time :( damn the sad thing is these guys are sorta above the law.. I hope the whole thing is exposed and put in the media so that the people can see who is really benefiting from all the anc's laws & last 10 yrs of suckiness
 
Anyone hear him on 702 this morning? It actually really pissed me off (I normally never get irritated with these things)....he ended off with saying that some large deal that went through last week (with MTN IIRC) was not frowned upon or criticized, but that when something is happening and THERE IS A BLACK PERSON involved, there's an entire uproar. What a loser.
 
Skip said:
Ugh. Thabo Mbeki really needs to make an executive decision stating that people in government are either in government or in business. They can't decide to straddle both like Smuts here.
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Ngonyama doesn't hold a government post.

(That's not to say that what is happened is acceptable - but lets get our facts straight.)
 
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this is ridiculous .... but just like for JZ .... the ppl that this really affects will end up supporting him because he is BLACK and not even realise that it is ppl like him that keep them and their families living in shacks and below the poverty line.. just so that they can get another merc... this is really sad :(
 
HosstheBoss said:
Not really, it's why I'm asking if thats the only reason, the implications (and I mean negative for Smuts) should be far greater, and not to mention Telkom, are they not responsible for the manner in which their shares are traded after all?
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Sorry, I didn't mean to run you down.

Let me explain.

On these forums Debbie said she went to Telkom with lawyers and yet the powers bluntly refused to supply the share holders in Telkom. Disregarding all legal requirements and rules of the different stock exchanges.

How is this possible? Easy.

I will put my house on a sidebet that each and everybody that was part of the leadership of the ANC will have shares in Telkom.

Now surely a comrade is not going to rock the boat if all of them are in there.

The worst of all is these shares was given to them. That is the reason they are not allowed to sell it. It was warehoused by the public sevice's pensionfund. Now they are selling to get full ownership of the rest of the shares. Absolute daylight robbery.

Put this in your pipe and smoke it. Tokyo and Ramaposa was involved in more than 74% of all BEE deals the last 2 years. Dipico and Cheryl Carolus just got another bugsy that could see 100 poorest of the poor living a mid-income live for ever. These are the deals that we are aware of. Most are hidden in holding companies and trusts.

Not even the Nats was as bad as this.
 
The Broederbond with a tan.

Interesting stats Getafix.
 
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