Lead story

How (and why) Telkom lost R10 billion

It had no experience in any foreign market, or in mobile, or in CDMA. Is it any surprise Multi-Links failed?

01 August 2011

R9.8 billion. That’s the official amount current group chief executive Nombulelo (Pinky) Moholi says Telkom spent on its Multi-Links safari in Nigeria.

To put that into perspective, that is nearly exactly half of Telkom’s current market capitalisation (post Vodacom unbundling). And it’s around 45 percent of the R22.5 billion it netted from the sale of the 15 percent stake in Vodacom to Vodafone.

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