About this report


This integrated annual report aims to document Blue Label Telecoms (BLT or the Group) unique value creation model and to provide a holistic view of the Group's operations. At the same time, the report shares BLT's integrated thinking as it implements its strategy across the Group.

This integrated annual report is the Group's primary report and covers its business segments and financial and operational performance for the financial year ended 31 May 2021. Non-financial and sustainability information is limited to the South African operations.

Ultimately, the report aims to provide stakeholders with a means of assessing the Group's ability to create and sustain value over the short, medium, and long terms.

Reporting frameworks

This report has been compiled in line with the disclosure requirements of King IV, the JSE Listings Requirements, and the principles of the International Integrated Reporting Council Integrated Reporting Framework.

In line with the recommendations of the King IV Report on Corporate Governance for South Africa (King IV), the JSE Listings Requirements, and the framework set out by the Value Reporting Foundation, Blue Label aims to link material Group information with reference to strategy, governance, performance, remuneration, risk, and opportunities and prospects in a manner that enables stakeholders to obtain a view of the commercial, social, and environmental context in which the Group operates.

The report aims to provide a balanced view of material issues the Group is dealing with and of how these are managed in accordance with the six capitals, as defined by the Integrated Reporting Framework. In order to determine the material content of the report, Blue Label uses a risk-based model that identifies risks and stakeholder issues. Material matters are defined as those that substantively affect the ability of Blue Label to create value over the short, medium and long term.

The annual financial statements are prepared in accordance with International Financial Reporting Standards (IFRS), the JSE Listings Requirements, and the Companies Act of South Africa, No 71 of 2008, as amended.

Disclosure and assurance

Blue Label Telecoms aims to achieve the highest standards for all disclosures included in this IAR, to provide meaningful, accurate, complete, transparent, and balanced information to stakeholders.

The financial information included in this IAR was prepared in accordance with IFRS. Blue Label's external auditor, PricewaterhouseCoopers Inc. (PwC), is independently assuring the annual financial statements. The Board of Directors (the Board) did not deem it necessary to obtain independent assurance on non-financial information.

Board responsibility and approval statement

The Board acknowledges its responsibility to ensure the integrity of this integrated annual report and is assisted in this regard by the Audit, Risk and Compliance Committee (ARCC). The Board has applied its collective mind to the preparation and presentation of this integrated annual report and has concluded that it is presented in accordance with the principles of the Integrated Reporting Framework, while the reporting continues to evolve year-on-year.

The integrated annual report was approved by the Board and signed on its behalf by


LM Nestadt

27 September 2021