40. Group interest in subsidiaries and associates
 

Set out below is a list of the significant subsidiaries and associates of the Group at 31 March 2021, held directly by Telkom SA. Unless otherwise stated, the entities as listed below have share capital consisting solely of ordinary shares, which are held directly by the Group and the proportion of ownership interest held equals to the voting rights held by the Group.

  Country of
incorporation		 Issued share
capital
2021
R		 Interest
in issued
ordinary
share
capital
2021
%		 Ownership
interest held
by noncontrolling
interest
2021
%		 Issued
share
capital
2020
R		 Interest
in issued
ordinary
share capital
2020
%		 Ownership
interest held
by noncontrolling
interest
2020
%
Business Connexion (Pty) Ltd RSA 2 280 500 100 – 2 280 500 100 –
Yellow Pages (Pty) Ltd RSA 100 000 100 – 100 000 100 –
Rossal No 65 (Pty) Ltd RSA 100 100 – 100 100 –
Acajou Investments (Pty) Ltd t/a VS Gaming RSA 100 100 – 100 100 –
Swiftnet (Pty) Ltd RSA 5 000 000 100 – 5 000 000 100 –
Number Portability Company RSA 100 20 – 100 20 –
Gyro Properties RSA 100 100 – 100 100 –
Gyro Solutions RSA 100 100 – 100 100 –

The total non-controlling interest for the year is R25 million (31 March 2020: negative R29 million) and relates to Business Connexion and is not considered material to the Group.

The Group's interest in the Number Portability Company (an associate) and BCX associates and joint ventures are not regarded as individually material. The equity method is used to account for the financial information of the associate. The investments are recorded at cost in the Company financial statements.

Interest in operating profits, before eliminations, from subsidiaries Revenue
Rm 		EBITDA
Rm 		EBIT
Rm 		Net profit/
(loss)
Rm
2021        
Business Connexion (Pty) Ltd 15 742 2 296 1 797 1 359
Yellow Pages (Pty) Ltd 386 43 11 13
Swiftnet (Pty) Ltd 1 237 994 976 723
Rossal No 65 (Pty) Ltd – 3 3 3
Acajou Investments (Pty) Ltd t/a VS Gaming – – 2 2
Telkom Foundation* 53 1 1 1
Gyro Properties 195 97 93 69
Gyro Solutions 325 101 96 71
2020        
Business Connexion (Pty) Ltd 18 743 2 876 2 202 1 088
Yellow Pages (Pty) Ltd 479 56 26 16
Swiftnet (Pty) Ltd 1 246 805 795 451
Rossal No 65 (Pty) Ltd – 2 – 1
Telkom Foundation* 63 (13) (13) (11)
Gyro Properties 272 247 243 164
Gyro Solutions 413 209 201 152

* Non-profit-making trust.

None of the Group's equity-accounted investees are publicly listed entities and consequently do not have published price quotations.

There are no significant restrictions on the ability of the associate to transfer funds to the Group in the form of cash dividends, or to repay loans or advances made by the Group.