Notes to the financial statements | Note 14

Shareholder approval for the sale of Swiftnet SOC Ltd

Telkom shareholders, by ordinary resolution, have approved the sale of Swiftnet masts and towers business to a consortium led by Actis. The sale is subject to the fulfilment of several other conditions, including regulatory approval from communications regulator ICASA and the Competition Commission.

Transition plan for ZARONIA

The South African Reserve Bank has published an update on the JIBAR transition plan on 6 May 2024. The plan defines a transition path for the South African market defined along three key pillars. The transition plan maps out a clear and achievable strategy for creating robust demand for trading ZARONIA derivatives and ultimately catalysing the broader adoption of ZARONIA. Management continues to monitor the developments in this regard in order to determine future impacts on the Telkom Group.

Other matters

The Directors are not aware of any other matter or circumstance since the financial year ended 31 March 2024 and the date of this report, or otherwise dealt with in the financial statements, which significantly affects the financial position of the Group and the results of its operations.