ICASA wasting millions

A damming report from the auditor-general`s office, tabled in parliament on Wednesday, revealed a host of serious financial irregularities at ICASA. The audit report - released along with ICASA`s annual report - includes the statement that "actual or potential fruitless, wasteful and irregular expenditure, totalling R6.75 million, was incurred".

With allegations of corruption in the CEO`s office, and evidently big problems in the CFO`s (with two acting CFOs this year already), the audit`s findings are hardly a surprise. What is surprising, however, is that the regulator feels the need to insure its fixed assets for a massive R200 million, when in fact they are worth less than R15 million. Explain that one.

Monday morning`s news was headed up by the furore over the Mail & Guardian being prevented from publishing an investigative piece on MTN SA MD Maanda Manyatshe, an interim court interdict meant the story had to be held over until today.

Lazarus Zim highlighted the importance of the ICT sector for Afripalm, and the development of Africa in general.

Dave Glazier, journalist, ITWeb

However, ITWeb was able to discover from a forensic auditor that Manyatshe is caught in a fight between the South African Post Office and Vision Design House. Manyatshe is denying the allegations and says he has documented proof that his version of events, and that the board approved the deviation of certain tenders. Click here.

Call centre group Dialogue listed on the JSE`s Alternative Exchange on Tuesday and its first share transactions took place quickly, with 1 000 shares changing hands at 17 seconds past nine at R1.40. JSE CEO Russell Loubser welcomed the group at a listing function in Sandton.

Sahara Holdings announced a R173 million empowerment deal on Wednesday, which sees the company selling 27% of its shares to mining magnate Tokyo Sexwale`s Mvelaphanda Holdings and former Anglo American SA CEO Lazarus Zim`s investment vehicle, Afripalm Consortium. Zim highlighted the importance of the ICT sector for Afripalm, and the development of Africa in general.

Politicians yesterday approved communications minister Ivy Matsepe-Casaburri`s preferences for the five ICASA councillor positions. New additions are Kobus van Rooyen, Andrew Barendse, and Robert Nkuna, Brenda Ntombela. The fifth individual, existing councillor Mamodupi Mohlala, will serve another term.

On Digital Media will invest about R1.7 billion in its satellite pay-TV ambitions if its application to ICASA is successful. CEO Mergan Moodley explains the company has spent three years planning a comprehensive satellite TV bouquet, hoping to compete with MultiChoice.