Sharenet Sites 
Sharenet Sites
Availability of Annual Financial Statements for the year ended 31 March 2023
Komati Basin Water Authority
Established in terms of the Treaty on the Development and Utilisation of Water Resources of the
Komati River Basin
Stock Code: KW01
ISIN Code: ZAG000016296
("KOBWA" or "the Issuer")
AVAILABILITY OF ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
Noteholders are hereby advised that the audited annual financial statements for KOBWA for the year ended
31 March 2023 ("2023 annual financial statements"), including the unqualified audit report of
PricewaterhouseCoopers Inc., the Issuer's registered auditors, are available for inspection at the registered
office of the Issuer and on the Issuer's website, https://www.kobwa.co.za/finance/reports/
In accordance with paragraph 6.17(c) of the JSE Debt Listings Requirements, Noteholders are advised
that, as set out in Note 26 of the 2023 annual financial statements, KOBWA has restated its previously
published annual financial statements for the following reasons:
Note 26: Prior year adjustments
26.1 Adjustments to the statement of financial performance
Presented in Note 26 are those line items contained in the statement of financial performance that have
been affected by prior-year adjustments resulting from an error in accounting for guaranteed grant income.
The finance income in Note 21 was incorrectly recorded. The cash received from RSA totaling
R/E 131,361,551 related to future interest payments of the Hambros Bank Loan was incorrectly accounted
for as finance income instead of unspent conditional grant. This resulted in the restatement of the prior year
numbers as detailed in Note 26.1.
26.2 Adjustments to the statement of financial position
Presented in Note 26 are those line items contained in the statement of financial position that have been
affected by prior-year adjustments resulting from an as described in Note 26.1 above. This resulted in the
restatement of the prior year numbers as set out in Note 26.2.
26.3 Adjustment to the cash flow statement
Presented in Note 26 are those line items contained in the cash flow statement that have been affected by
prior-year adjustments resulting from an error as described in Note 26.1 above. This resulted in the
restatement of the prior year numbers as set out in Note 26.3.
26.4 Adjustment to the statement of changes in net assets
Presented in Note 26 are those line items contained in the statement of net assets that have been affected
by prior-year adjustments resulting from an error as described in Note 26.1 above. This resulted in the
restatement of the prior year numbers as set out in Note 26.4.
Piggs' Peak, Eswatini
31 October 2023
Debt Sponsor
Merchantec Capital
Date: 31-10-2023 05:37:00
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