/ 13 December 2010

Padayachie ‘concerned’ about Telkom dossier

Communications Minister Roy Padayachie on Monday expressed concern at media reports regarding a dossier that alleges “widespread corruption” at Telkom.

“Padayachie is confident that the Telkom board of directors is well capacitated to deal with the matter at hand,” his office said in a statement.

“[The minister] believes that [the board has] a fiduciary responsibility to ensure Telkom observes principles of good governance at all times.”

The Mail & Guardian reported in May on alleged corruption going on at the company.

Later in the year two of Telkom’s staff members quit, although the company denied it had anything to do with the corruption dossier.

Padayachie said he was “encouraged to note that the board and its senior management view the allegations in a serious light and that they have committed to institute a thorough investigation into these issues”.

“I urge them to move swiftly in attending to these allegations to restore investor and public confidence in this crucial asset.”

Padayachie says he is “keen to ensure that corporate governance principles are upheld without fail in all institutions that fall under the jurisdiction of the ministry of communications by working closely with the boards of directors of these entities”. — TechCentral & M&G reporter