Notes | 2024 R’000 |
2023 R’000 |
|||
---|---|---|---|---|---|
Cash flows from operating activities | |||||
Cash received from customers | 15 442 828 | 19 227 226 | |||
Cash paid to suppliers, financiers and employees | (14 673 448) | (19 024 350) | |||
Cash generated by operations | 1.6 | 769 380 | 202 876 | ||
Interest received | 199 516 | 174 039 | |||
Interest paid | (1 082 619) | (663 908) | |||
Taxation paid | (186 884) | (214 850) | |||
Net cash utilised in operating activities | (300 607) | (501 843) | |||
Cash flows from investing activities | |||||
Acquisition of intangible assets* | (282 221) | (936 140) | |||
Proceeds on disposal of intangible assets | — | 4 | |||
Acquisition of property, plant and equipment | 4.3 | (88 143) | (119 167) | ||
Proceeds on disposal of property, plant and equipment | 14 698 | 7 847 | |||
Acquisition of subsidiaries, net of cash acquired** | — | (29 707) | |||
Additional investment in and acquisition of shares in associates | 2.1.1 | — | (372 609) | ||
Loans advanced to associates and joint ventures | (18 262) | (1 093 013) | |||
Loans repaid by associates and joint ventures | 236 678 | 194 681 | |||
Loans receivable carried at fair value repaid | 3.5 | 45 419 | 13 540 | ||
Loans granted | (10 189) | (65 539) | |||
Loans receivable repaid | 40 828 | 38 252 | |||
Net cash utilised in investing activities | (61 192) | (2 361 851) | |||
Cash flows from financing activities | |||||
Interest-bearing borrowings raised | 3.4.2 | 2 667 689 | 1 867 861 | ||
Interest-bearing borrowings repaid | 3.4.2 | (2 674 283) | (381 248) | ||
Lease repayments | 3.8 | (16 785) | (42 032) | ||
Issuance of Class B Preference Shares | 3.5 | — | 66 859 | ||
Treasury shares sold/(acquired)*** | 6.1 | 207 | (66 033) | ||
Dividends paid to non-controlling interest | (21 649) | (2 474) | |||
Net cash (utilised in)/generated by financing activities | (44 821) | 1 442 933 | |||
Net decrease in cash and cash equivalents | (406 620) | (1 420 761) | |||
Cash and cash equivalents at the beginning of the year | 1 302 767 | 2 723 528 | |||
Cash and cash equivalents at the end of the year | 3.3.4 | 896 147 | 1 302 767 |
* | Acquisitions of intangible assets in the prior year included significant cash outflows of R832 million relating to the subscription income sharing arrangement. |
** | In the prior year, the Group acquired 50% of Aligned Partnered Solutions Proprietary Limited’s share capital on 31 March 2023 for a purchase consideration of R500. The Group further acquired 60% of Lipa Payments Proprietary Limited’s share capital on 24 April 2023 for a purchase consideration of R30 million. |
*** | In the prior year, approximately 10 million shares were repurchased over the period 25 August 2022 to 19 September 2022 at a weighted average price of R6.58 per share. |