For the year ended 31 march 2014
| 2014 | 2013 | |
|---|---|---|
| Rm | Rm | |
| Discontinued operation | ||
| Pan African business, iWayAfrica and Africa Online Mauritius | ||
| On the 20th of December 2013, Telkom sold the Pan African business, iWayAfrica and Africa Online Mauritius, through a private sale to Gondwana International Networks. | ||
| iWayAfrica was formed as the result of the amalgamation of MWEB Africa and Africa Online in 2007 when MWEB Africa was purchased by Telkom. The iWayAfrica business operates in eight countries on the continent offering terrestrial wireless and VSAT services to business and residential markets, as well as via its channel partners in many other countries on the continent. | ||
| Telkom's investment in iWayAfrica was already fully impaired at 31 March 2012. Gondwana took over the assets and liabilities (including amounts owed by Telkom) for a nominal consideration. | ||
| Analysis of the results of the discontinued operations: | ||
| Revenue* | 240 | 403 |
| Expenses* | (289) | (496) |
| Loss before taxation of the discontinued operations | (49) | (93) |
| Taxation | - | (11) |
| Loss after taxation of the discontinued operations | (49) | (104) |
| *Revenue comprises operating revenue, other income and investment income. Expenses comprise operating expenses and finance charges. | ||
| The net cash flows attributable to the operating, investing and financing activities of discontinued operations: | ||
| Operating cash flows | (38) | - |
| Total cash outflow* | (38) | - |
| *Cash flows included for 2014 are up to December 2013. At 20 December 2013, on the disposal date, iWayAfrica had R48 million cash on hand. | ||