Telecommunications group Telkom has assured stakeholders that it follows robust governance principles following President Cyril Ramaphosa’s green light for an investigation into possible maladministration in the sale or disposal of iWayAfrica, Africa Online Mauritius and Multi-Links Telecommunications.

In a Government Gazette, signed off on January 14 and published on January 25, the Special Investigating Unit (SIU) has been given authority to investigate several matters as far back as 2006, including contracting and possible maladministration regarding the disposals.

According to the Gazette, the terms of reference of the SIU are to investigate any alleged serious maladministration in connection with the affairs of Telkom; any alleged improper or unlawful conduct by employees, officials or agents of Telkom; any alleged unlawful appropriation or expenditure of public money or property; and any alleged unlawful, irregular or unapproved acquisitive act, transaction, measure or practice having a bearing upon State property; as well as any alleged intentional or negligent loss of public money or damage to public property, besides others.

In the Gazette, Ramaphosa states that Telkom or the State may have suffered losses that can be recovered and civil proceedings could follow.

“All matters relating to these transactions are on the public record. Telkom’s own investigation flagged possible cases of wrongdoing by two employees in one of these transactions and declared this in terms of the Prevention and Combatting of Corrupt Activities Act. Telkom issued civil summons against an employee with an eye to recovering losses amounting to $5-million relating to activities incidental to the transaction,” Telkom said in an update.

With the SIU investigation now pending, Telkom expects to receive further clarity on the scope of the investigation.

“Telkom will deal with the investigation on its merits in the appropriate forum, in the appropriate manner, at the appropriate time,” the company continued, pointing out that it follows robust corporate governance principles and has done so in executing the Telkom strategy to consolidate its operations in South Africa.