Johannesburg – Telkom chief executive Sipho Maseko faces referral to South Africa’s national prosecutor or a fine if he fails to attend a corporate governance course as ordered, a state department said.
Maseko was told by regulators to attend a director duties course in February after a loan awarded to the chief financial officer of Africa’s biggest fixed-line operator was judged to have breached corporate rules.
Telkom has rejected the Companies and Intellectual Property Commission’s authority to impose sanctions, Johannesburg-based Business Day newspaper reported on April 10, citing an interview with Maseko.
Pretoria-based Telkom spokesman Pynee Chetty declined to comment on the Business Day story when called by Bloomberg News on April 10 and the company didn’t immediately respond to phone calls seeking comment today.
