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Notice of availability of annual report
uMngeni-uThukela Water
Registration number: 1997/007707/07
JSE Alpha code: BIUMWA
("uMngeni Water" or "the group")
NOTICE OF AVAILABILITY OF ANNUAL REPORT
UMngeni Water hereby notifies its debt investors that it has publicly released its Annual Report for the
year ended 30 June 2023 ("Annual Report"), incorporating the annual financial statements for the year
ended 30 June 2023 ("AFS") and the auditor's report prepared by the Auditor-General of South Africa
("AGSA") ("Auditor's Report") which is unqualified.
The Annual Report, incorporating the AFS and the Auditor's Report, are available on the uMngeni Water
website at https://www.umgeni.co.za/2022-2023-annual-report/ and for inspection at uMngeni
Water's registered office at 310 Burger Street, Pietermaritzburg, 3201, South Africa.
Restatements
The AFS contain a restatement for the prior year ended 30 June 2022 ("prior period"). During the year,
the JSE advised uMngeni Water that its 2021/2022 financial statements were subject to the JSE's pro-
active monitoring process. In terms of this process, the JSE were of the opinion that the change of
investments disclosed as financing activity was not correct and requested that uMngeni Water change
the disclosure of the movement in investments and interest to changes in investing activities.
Emphasis of matter and material irregularity
The Auditor's Report contains an emphasis of matter relating to material impairments of R588.44 million
raised by uMngeni Water on trade and other receivables due to debtors not being able to settle
outstanding amounts. The AGSA's opinion has not been modified in respect of this matter.
In addition, the AGSA identified a material irregularity in progress and notified the accounting authority
as required. Full details of the material irregularity will be included in next year's Auditor's Report.
8 December 2023
Debt Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Date: 08-12-2023 10:32:00
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