13. OPERATING PROFIT/(LOSS)

Operating profit/(loss) is arrived at after including the following:

  Notes   2025 
R’000 
  2024 
R’000 
The following has been charged/(credited) in arriving at operating profit/(loss):          
Audit fees     354    335 
Consulting fees     11 055    5 509 
Depreciation     —   
Legal expenses     1 807    257 
Secretarial fees     1 771    1 542 
(Reversal)/increase in expected credit loss (ECL), arising from the application of IFRS 9, comprise the following:          
ECL movement on loans 6   (224 457)   371 935 
ECL movement on financial guarantees 11   (47 784)   46 606 
      (272 241)   418 541