by SAVIOUS KWINIKA
JOHANNESBURG, (CAJ News) – TELKOM has welcomed the Pretoria High Court setting aside a proclamation by President Cyril Ramaphosa to investigate the mobile network operator.
The South African president in 2022 issued Proclamation 49 giving the Special Investigative Unit (SIU) authority to investigate allegations of maladministration and misconduct by previous Telkom executives.
This was around some transactions and disposal of some entities by the partly government-owned Telkom.
In delivering the judgement, Judge Thlapi found the decision to issue the proclamation to be unconstitutional, invalid and of no force or effect.
Approaching the courts, Telkom confirmed its commitment to good governance, the company stated.
“The allegations in the proclamation had already been addressed by the company through Telkom’s corporate governance processes and the outcomes are of public record,” Group Chief Executive Officer, Serame Taukobong, said.
Telkom said it approached the courts because it was of the view that left unchallenged, the proclamation would set a dangerous precedent on the role of the state in private enterprise.
“Telkom consistently upholds the principles of good corporate governance. It is unfortunate that Telkom needed to approach the courts on this matter and we hope that this judgement brings it to finality,” Taukobong concluded.
Shares of the Johannesburg Stock Exchange-listed Telkom, firmed by 3,69 percent on Thursday.
– CAJ News