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The DA notes with regret the resignation of Telkom’s Chairman Lazarus Zim, and wishes him well on his future path.

His departure is likely to be the first of many of those in Telkom who invested extensive energy and time into developing a strategic turnaround and expansion deal with South Korea’s KT Corp that Cabinet rejected as soon as it was tabled on May 30.

It must have been untenable for him – and many of his team – to have been so brutally betrayed by the major shareholder which instigated the negotiations with KT Corp. Despite monthly meetings with Communications Minister Dina Pule he was given no hint of the fact that Telkom was negotiating on behalf of an unwilling seller.

Mr Zim obviously has insight into Cabinet’s intentions for Telkom and wants to play no part in these. It is a sad day indeed when government ineptitude chases away talented and dedicated business people who want to play a constructive role in making South Africa work.