NOTES TO THE COMPANY ANNUAL FINANCIAL STATEMENTS l NOTE 21

21. RELATED PARTY TRANSACTIONS

Related party relationships

For details of subsidiaries and joint ventures, refer to note 33 in the Group notes.

For details of the Company’s directors, refer to the directors’ report.

ZOK Cellular Proprietary Limited, BSC Technologies Proprietary Limited, Black Ginger 59 Proprietary Limited, Dataforce Trading 240 Proprietary Limited, Moneyline 311 Proprietary Limited, PLL Investments Proprietary Limited, aloeCap Proprietary Limited, Stylco Proprietary Limited, Wildekrans Wine Estate Proprietary Limited, Wireless Business Solutions Proprietary Limited, iBurst Proprietary Limited, Parkrun Southern Africa Proprietary Limited, Bordelo Properties Proprietary Limited, Blu’s Brothers Proprietary Limited, Stax Technologies Proprietary Limited, and Ellerine Bros. Proprietary Limited are related parties due to directors’ shareholdings and the companies having certain common directorships.

For details of the shareholdings in the Company, refer to the directors’ report.

Directors’ emoluments (refer to note 29 of the Group annual financial statements and remuneration report).

The following transactions were carried out with related parties:

    2014
R’000
    2013
R’000
 
Purchases from related parties            
Black Ginger 59 Proprietary Limited   6 115     4 902  
BSC Technologies Proprietary Limited   65     7  
Cellfind SA Proprietary Limited   14      
Stax Technologies Proprietary Limited   26      
Stylco Proprietary Limited       18  
The Prepaid Company Proprietary Limited   2     3  
Wildekrans Wine Estate Proprietary Limited   1     13  
ZOK Cellular Proprietary Limited   20      
Interest received from related parties            
Africa Prepaid Services Proprietary Limited   4 462     2 325  
Africa Prepaid Services Nigeria Limited   1 273     120  
2DFine Holdings Mauritius   527      
Blue Label Mexico S.A. de C.V.   1 017     576  
Management fees received from related parties            
Activi Deployment Services Proprietary Limited   97     88  
Blue Label Distribution Proprietary Limited   3 343     3 039  
Blue Label Mexico S.A. de C.V.   250     520  
Blue Label One Proprietary Limited   1 200     1 320  
Cellfind SA Proprietary Limited   3 479     3 162  
Cigicell Proprietary Limited   2 996     2 723  
Datacel Direct Proprietary Limited   483     439  
The Prepaid Company Proprietary Limited   68 000     96 000  
Transaction Junction Proprietary Limited   97     88  
Rent received from related parties            
Black Ginger 59 Proprietary Limited 13 545 11 434  
Rent paid to related parties            
Ellerine Bros. Proprietary Limited   6 222     5 631  
Moneyline 311 Proprietary Limited   6 222     5 631  
Impairment of related party investments            
Africa Prepaid Services Nigeria Limited       14 000  
Impairment of related party loans            
Africa Prepaid Services Proprietary Limited   17 740     35 849  
Africa Prepaid Services Nigeria Limited   12 397     5 113  
Loans to related parties            
Blue Label Mexico S.A. de C.V.   1 054      
Loan has no fixed terms of repayment and bears interest at 4.25% per annum.            
Gold Label Investments Proprietary Limited   30 589     37 446  
Loan has no fixed terms of repayment and is interest-free.            
2DFine Holdings Mauritius   63 035      
Loan bears interest at 10% per annum.            
Uninex Proprietary Limited   976     976  
Loan has no fixed terms of repayment and is interest-free.            
Loans from related parties            
Blue Label Investments Proprietary Limited   3 638     3 638  
Loan has no fixed terms of repayment and is interest-free.            
Datacel Direct Proprietary Limited       8 493  
Loan has no fixed terms of repayment and is interest-free.            
The Prepaid Company Proprietary Limited   423 311     90 727  
Loan has no fixed terms of repayment and is interest-free.            
Ventury Group Proprietary Limited   48 000     48 000  
Loan has no fixed terms of repayment and is interest-free.            
Amounts due from related parties included in trade receivables            
Black Ginger 59 Proprietary Limited       4 683  
Blue Label Distribution Proprietary Limited       8  
Blue Label Mexico S.A. de C.V.       1 759  
Smart Voucher Limited trading as UKash       (25)  
        6 425  

      2014
R’000
    2013
R’000
 
  Amounts due to related parties included in trade payables            
  aloeCap Proprietary Limited   44      
  Blue Label Distribution Proprietary Limited       8  
  Cigicell Proprietary Limited       15  
  KM Ellerine   84     42  
  NN Lazarus   133     40  
  LM Nestadt   211     199  
  Unihold Group Proprietary Limited   95      
  JS Vilakazi   71     30  
      638     334  

NOTES TO THE COMPANY ANNUAL FINANCIAL STATEMENTS l NOTE 21