Notes to the Group annual financial statements | Note 2.2

2. GROUP COMPOSITION
2.2 Non-controlling interests
 

Set out below is the summarised financial information relating to each subsidiary that has non-controlling interests that are material to the Group. The amounts disclosed for each subsidiary are before inter-company eliminations with other companies in the Group.

Subsidiary
Principal place of business
Segment 		 TJ Group1
South Africa
Africa Distribution 		 Blue Label Data
Solutions
South Africa
Solutions 		 Cigicell Proprietary
Limited2
South Africa
Africa Distribution 
 NCI (%) 2023 
40 
R’000 		 2022 
40 
R’000 		 2023 
19 
R’000 		 2022 
19 
R’000 		 2023 
26 
R’000 		 2022 
26 
R’000 
Non-current assets  70 230  16 733  40 901  52 358  30 948  49 113 
Current assets  66 202  84 571  86 034  69 088  727 738  664 933 
Total assets  136 432  101 304  126 935  121 446  758 686  714 046 
Capital and reserves  96 921  74 778  70 076  72 944  229 433  196 005 
Non-current liabilities  15 642  11 471  1 496  1 153  —  23 
Current liabilities  23 869  15 055  55 363  47 349  529 253  518 018 
Total equity and liabilities  136 432  101 304  126 935  121 446  758 686  714 046 
Accumulated NCI3  41 489  31 530  13 314  13 859  59 653  51 215 
Summarised statement of comprehensive income for the year ended 31 May                   
Revenue  147 346  134 734  257 811  230 589  252 934  304 440 
Total comprehensive income for the year  20 990  25 203  22 133  31 142  33 428  181 417 
Comprehensive income allocated to NCI  8 396  10 081  4 205  5 917  8 397  47 869 
Summarised cash flows for the year ended 31 May                   
Cash flows generated from/(utilised in) operating activities  39 324  34 845  18 375  16 171  (15 851) 54 210 
Cash flows generated from/(utilised in) investing activities  36 089  3 225  (20 959) 9 256  638  (1 378)
Cash flows generated from/(utilised in) financing activities  2 166  (56 173) 3 626  13 488  10 370  (64 507)
Net (decrease)/increase in cash and cash equivalents   77 579   (18 103)  1 042   38 915   (4 843)  (11 675)
Dividends paid to NCI  —  22 000  4 750  2 850  —  5 200 
1 The TJ Group consists of Transaction Junction Proprietary Limited and Transaction Junction (Namibia) Proprietary Limited.
2 Cigicell Proprietary Limited includes its subsidiary, Visual Revenue Management Proprietary Limited (VRM).
3 Accumulated NCI excludes the share-based payment reserve adjustments because the awards are treated as cash-settled in the separate
entities’ financial statements.