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| 2021 R'000 |
2020 R'000 |
||
| Cash flows from operating activities | |||
| Cash received from customers | 18 988 312 | 23 539 462 | |
| Cash paid to suppliers, financiers and employees | (17 248 453) | (21 836 971) | |
| Cash generated by operations | 1 739 859 | 1 702 491 | |
| Interest received | 59 719 | 93 053 | |
| Interest paid | (126 780) | (214 166) | |
| Taxation paid | (204 756) | (324 553) | |
| Net cash generated from operating activities | 1 468 042 | 1 256 825 | |
| Cash flows from investing activities | |||
| Acquisition of intangible assets* | (36 704) | (31 093) | |
| Proceeds on disposal of intangible assets | 4 301 | 19 038 | |
| Acquisition of property, plant and equipment | (71 214) | (139 430) | |
| Proceeds on disposal of property, plant and equipment | 4 115 | 15 150 | |
| Acquisition of subsidiary, net of cash acquired | 83 | 206 | |
| Proceeds from disposal of shares in subsidiary, net of cash disposed | – | 698 335 | |
| Proceeds from disposal of shares in joint ventures | 190 555 | – | |
| Liquidity support granted | (331 000) | – | |
| Loans advanced to associates and joint ventures | (52 259) | (5 369) | |
| Loans repaid by associates and joint ventures | 39 204 | 17 888 | |
| Dividend received from associate and joint venture | 14 000 | 6 100 | |
| Loans granted | (74 274) | (185 635) | |
| Loans receivable repaid | 67 520 | 58 430 | |
| Net cash (utilised in)/generated by investing activities | (245 673) | 453 620 | |
| Cash flows from financing activities | |||
| Interest-bearing borrowings raised | 152 007 | 31 487 | |
| Interest-bearing borrowings repaid | (751 053) | (911 836) | |
| Non-interest-bearing borrowings raised | 270 | 170 | |
| Non-interest-bearing borrowings repaid | (13 959) | (22 094) | |
| Proceeds from dilution of shares in subsidiary** | – | 34 435 | |
| Principal lease repayments | (49 900) | (53 210) | |
| Settlement of financial guarantee | (53 285) | (44 190) | |
| Settlement of forward exchange contracts | (2 895) | ' | |
| Acquisition of treasury shares | (43 924) | (46 352) | |
| Dividends paid to non-controlling interest | (57 148) | (67 469) | |
| Net cash utilised in financing activities | (819 887) | (1 079 059) | |
| Net increase in cash and cash equivalents | 402 482 | 631 386 | |
| Cash and cash equivalents at the beginning of the year | 2 014 725 | 1 377 753 | |
| Exchange gains on cash and cash equivalents | – | 5 586 | |
| Cash and cash equivalents at the end of the year | 2 417 207 | 2 014 725 |
| * | Significant non-cash transactions amounting to R656 million during the 2021 financial year comprise the additions to the subscription income sharing arrangement and the subscriber acquisition costs. Refer to note 4.2 in the Group annual financial statements. Payments are expected to be made during the 2022 financial year and will be presented as cash flows from investing activities. |
| ** | This relates to Malik Investment Holdings Proprietary Limited’s subscription for a further 4.51% in Blue Label Mobile Holdings Proprietary Limited. Refer to the note on discontinued operations. |
Refer to the note on discontinued operations for the cash flows included above that relate solely to discontinued operations.