Notes to the financial statements | Note 40

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 2022, held directly by Telkom SA SOC Ltd. 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
2022
R		 Interest
in issued
ordinary
share capital
2022
%		 Ownership
interest held
by non-
controlling
interest
2022
%		 Issued share
capital
2021
R		 Interest
in issued
ordinary
share capital
2021
%		 Ownership
interest held
by non-controlling
interest
2021
%
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 Company1 RSA 100 20 – 100 20 –
Gyro Properties (Pty) Ltd RSA 100 100 – 100 100 –
Gyro Solutions (Pty) Ltd RSA 100 100 – 100 100 –

 

The disclosure of the interest in Number Portability Company is as follows: 31 March
2022
Rm		 31 March
2021
Rm
Closing carrying value 12 9

The total non-controlling interest for the year is R25 million (31 March 2021: R25 million) and relates to Business Connexion and Yellow Pages and is not considered material to the Group.

Interest in operating profits, before eliminations, from subsidiaries Revenue
Rm		 EBITDA
Rm		 EBIT
Rm		 Net profit/
(loss)
Rm
2022        
Business Connexion (Pty) Ltd 15 328 2 361 1 618 1 060
Yellow Pages (Pty) Ltd 337 37 69 50
Swiftnet (Pty) Ltd 1 291 909 869 637
Rossal No 65 (Pty) Ltd – – – 1
Telkom Foundation2 74 3 3 2
Gyro Properties (Pty) Ltd 131 85 74 55
Gyro Solutions (Pty) Ltd 356 155 150 109
         
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 Foundation2 53 1 1 1
Gyro Properties (Pty) Ltd 195 97 93 69
Gyro Solutions (Pty) Ltd 325 101 96 71
1 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.
2 Non-profit making trust.

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