Former Telkom CEO convicted after his companies failed to file 85 tax returns

• Sipho Maseko was convicted at the Palm Ridge Magistrate’s Court of failing to submit tax returns for five of his companies.
• Maseko served as Group CEO of Telkom from April 2013 to December 2021, when he stepped down from the position, and helped oversee Telkom’s migration from ADSL to fibre, allowing Openserve to become South Africa’s second-largest fibre network operator by homes passed and connected.
• Maseko has since paid an R85,000 fine on behalf of the companies, which include One Fountain Properties, One Fountain Industries, One Fountain Capital, Afrifund Advisory Services and Afrifund Investments.