|
Classes and categories of financial instruments and their fair values
The following table combines information about:
- Classes of financial instruments based on their nature and characteristics;
- The carrying amounts of financial instruments;
- Fair values of financial instruments (except financial instruments when carrying amount approximates their fair
value); and
- Fair value hierarchy levels of financial assets and financial liabilities for which fair value was disclosed.
| |
|
Financial assets |
Financial liabilities |
Fair value level |
| Deferral loan |
2.1.2 |
|
|
912 938 |
|
|
| Debt funding |
2.1.2 |
|
1 063 213 |
|
|
| Reinvestment instrument |
2.1.2 |
|
134 831 |
|
|
| Other loans receivable |
3.3.1 |
|
148 255 |
|
|
| Airtime sale and repurchase loan |
3.4.2 |
|
|
|
988 245 |
| Class A Preference Shares |
3.4.2 |
|
|
|
171 453 |
| Other borrowings |
3.4.2 |
|
|
|
2 913 422 |
| Surety loan receivable |
3.5 |
129 315 |
|
|
|
|
|
129 315 |
| Loans receivable |
3.5 |
44 864 |
|
|
|
|
|
44 864 |
| Class B Preference Shares |
3.5 |
|
|
50 774 |
|
|
|
50 774 |
| SPV5 derivative liability |
3.5 |
|
|
11 050 |
|
|
|
11 050 |
| Funds borrowed |
|
— |
66 859 |
| Transaction costs |
— |
— |
| Effective interest rate (%) |
N/A |
N/A |
| Value at 31 May 2023 |
11 050 |
50 774 |
The gain arising from the change in fair value has been included in profit or loss for the period.
Fair value of the Company's financial assets and financial liabilities that are measured at fair value
on a recurring basis
Some of the Company's financial assets and financial liabilities are measured at fair value at the end of each
reporting period. The following table gives information about how the fair values of these financial assets and
financial liabilities are determined.
| Preference Share B |
Discounting of cash flow after taking
into account credit risk of Cell C |
Probability of default
of Cell C |
10.11% – 12.35% PD range |
| SPV5 derivative liability |
Discounting of cash flow after taking
into account credit risk of Cell C |
Probability of default
of Cell C |
5% – 61.94% LGD range |
Reconciliation of Level 3 fair value measurements of financial instruments
| Balance at 1 June 2022 |
|
|
— |
— |
— |
| Advances |
|
13 214 |
66 859 |
80 073 |
| Total gains recognised |
|
(2 164) |
(16 085) |
(18 249) |
| – in profit or loss |
|
(2 164) |
(16 085) |
(18 249) |
| – in other comprehensive income |
|
— |
— |
— |
| Transfers out of level 3 |
|
— |
— |
— |
| Transfers into level 3 |
|
— |
— |
— |
| Balance at 31 May 2023 |
|
11 050 |
50 774 |
61 824 |
Sensitivity analysis of valuations using unobservable inputs
| Probability of default of Cell C |
10/(10)% |
| Loss given default of Cell C |
10/(10)% |
A significant parameter has been deemed to be one which may result in a charge to profit or loss, or a change in the
fair value of the asset or liability by more than 10% of the underlying value of the affected item.
This is demonstrated by the following sensitivity analysis which includes reasonable range of possible outcomes:
| Preference Share B |
Valuation of Cell C remains unchanged,
Probability of default stressed by 10% |
5 508 – 7 417 |
| SPV5 derivative liability |
Loss given default stressed by 10% |
(923) – 923 |
Credit risk of financial instruments designated at fair value
The following table represents the maximum exposure to credit risk of financial liabilities linked to the credit risk
of another counterparty:
| Preference Share A |
Cell C |
171 453 |
|
