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BLUE LABEL
INTEGRATED ANNUAL REPORT 2017
Notes
to the Group annual financial statements
continued
For the year ended 31 May 2017
2.
Group composition
continued
2.1 Investments in and loans to associates and joint ventures continued
The Group’s interests in its other associates, which are unlisted, are as follows:
Country of
incorporation
Non-
current
assets
R’000
Current
assets
R’000
2017
Lornanox Proprietary Limited
South Africa
47 340
119 691
Utilities World Proprietary Limited
South Africa
52
8 043
Mpower Softcomm Private Limited
India
105 216
14 844
2016
Lornanox Proprietary Limited
South Africa
40 464
111 732
Mpower Softcomm Private Limited
India
20 958
15 819
The Group’s interests in its other joint ventures, which are unlisted, are as follows:
Country of
incorporation
Non-
current
assets
R’000
Current
assets
R’000
2017
Supa Pesa South Africa Proprietary Limited
South Africa
659
4 101
Prepaid24 Proprietary Limited
(previously Banosign Proprietary Limited)
South Africa
270
4 320
United Call Centre Solutions Proprietary Limited
South Africa
1 110
1 114
Datacision Proprietary Limited
South Africa
— 13 493
2016
Supa Pesa South Africa Proprietary Limited
South Africa
148
4 618
Banosign Proprietary Limited
South Africa
118
5 356
Datacision Proprietary Limited
South Africa
— 15 654
* Less than R1 000.
Loans to associates and joint ventures
Interest
rate
2017
R’000
2016
R’000
Oxigen Services India Private Limited
LIBOR + 1.50%
—
38 359
2DFine Holdings Mauritius*
10%
—
234 892
Supa Pesa South Africa Proprietary Limited
11%
6 714
7 307
United Call Centre Solutions Proprietary Limited
0%
1 591
—
Prepaid24 Proprietary Limited
(previously Banosign Proprietary Limited)
Prime
5 033
—
Prepaid24 Proprietary Limited
(previously Banosign Proprietary Limited)
0%
6 000
1 638
19 338
282 196
* Refer to note 8 for details on the surety relating to this loan.
The loans are neither past due nor impaired with a low risk of default.
The loans to associates and joint ventures are repayable on demand.