| 2. | Accounting framework and significant judgements |
| 2.5 | Significant changes in the current financial year |
| 2.5.1 | Settlement of the Telkom Retirement Fund (TRF or the fund) |
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During the current financial year, the TRF met the IAS 19 (Employee Benefits) criteria for a full settlement of the defined benefit plan, following an amendment to the TRF rules, which was approved by the Financial Sector Conduct Authority (FSCA) with effect from 1 July 2024. The amendment changed the nature of the liabilities relating to the fund from a defined benefit to a defined contribution plan (as no further company obligation remains) according to IAS 19, with effect from 1 July 2024. Refer to note 10.3 for further details. |
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| 2.5.2 | Internal organisational restructuring |
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In the 2023 financial year, Telkom had entered into formal consultation processes with the relevant stakeholders in terms of section 189 of the Labour Relations Act to restructure the Group's operations to ensure its sustainability. Phase one of the restructuring commenced in February 2023 and impacted all business units and subsidiaries. BCX continues to face persistent operational and financial challenges, necessitating further business changes and phase two of the section 189 process. In line with the consultation process with the unions, Telkom offered voluntary severance packages and voluntary early retirement packages to employees in BCX and Gyro. Refer to note 3.4.4 for further details. |
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| 2.5.3 | Disposal of Swiftnet |
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The disposal of Swiftnet was completed effective 31 January 2025. Refer to notes 12.2 and 12.3 for further details. |