MBABANE - The Johannesburg Stock Exchange (JSE) publicly censured and fined the Komati Basin Water Authority (KOBWA) E500 000 for failing to timely publish a SENS announcement.
According to the South African publication, The Citizen, the announcement related to the appointment of an executive operations director, and suspended the fine for three years.
KOBWA is a bi-national entity between South Africa and Eswatini established in 1993 under a 1992 treaty.
One of the requirements for a publicly listed company is that it announces any major change, including changes to executive members, through the Stock Exchange News Service (SENS)
“The provisions of paragraph 6.42(a) of the JSE’s Debt and Specialist Securities Listings Requirements (‘DSS Listings Requirements’) require an issuer, through its debt sponsor or designated person, to notify the JSE of any change, including the reason for the change, to the board of directors, the company secretary or debt officer, including the appointment of a new director (including the director’s capacity in terms of paragraph 7.3(c),” said the bourse.
The entity operates the Maguga Dam in Eswatini and the Driekoppies Dam in South Africa, focusing on water security for irrigation and downstream usage.
On Monday, the JSE announced it had fined the entity for failing to publish the SENS announcement of the appointment of the Executive Operations Director on time.
The appointment was made on 11 August 2025; however, KOBWA only published the SENS announcement on November 19, 2025.
“Accordingly, the JSE found the Issuer to be in breach of the provisions of paragraph 6.42(a) of the DSS Listings Requirements in respect of the late announcement of the appointment of the Executive Operations Director of KOBWA,” the bourse said.
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The entity operates the Maguga Dam in Eswatini and the Driekoppies Dam in South Africa, focusing on water security for irrigation and downstream usage.