"These draft regulations are an outcome of the review of the 2010 call termination regulations and form part of the cost to communicate programme which is aimed at reducing the high cost of communication in South Africa," Icasa said in a statement on Wednesday.
"The authority recognises the importance of providing surety to all stakeholders on the future of termination rates in South Africa."
Termination rates are the fees operators pay to connect calls between the networks. Icasa previously said the cost of termination on a mobile network should be as low as 15 cents.
It said the regulations outlined Icasa's position on revised termination rates and potential levels of asymmetry being made available to smaller players in the industry.