| NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS l NOTE 16 |
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2013
R’000 |
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2012
R’000 |
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| 16. |
Borrowings |
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Interest-bearing borrowings |
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1 980 |
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— |
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Non-interest-bearing borrowings |
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12 017 |
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12 017 |
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13 997 |
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12 017 |
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Less: Amounts included in current portion of
borrowings |
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(13 997) |
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(12 017) |
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— |
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— |
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The Group did not default on any loans or breach
any terms of the underlying agreements during the
period. The carrying value of interest-bearing
borrowings approximates their fair value.
Borrowings are unsecured and have no fixed terms
of repayment. Interest-bearing borrowings bear
interest at prime + 2%. |
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| NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS l NOTE 16 |
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