Notes to the Company annual financial statements | Note 24

24. Related parties
 

Accounting policy

A related party is a person or an entity that is related to the reporting entity:

  • A person or a close member of that person's family is related to a reporting entity if that person has control, joint control, or significant influence over the entity or is a member of its key management personnel.
  • An entity is related to a reporting entity if, among other circumstances, it is a parent, subsidiary, fellow subsidiary, associate or joint venture of the reporting entity, or it is controlled, jointly controlled, or significantly influenced or managed by a person who is a related party.

Key management personnel are defined as all Directors of the Company.

Relationships

Subsidiaries of Blue Label Telecoms Limited
Blue Label Company Proprietary Limited Glocell Retail Solutions Proprietary Limited
Blue Label Connect Proprietary Limited Gold Label Investments Proprietary Limited
Blue Label Data Solutions Proprietary Limited Heroticket Proprietary Limited
Blue Label Distribution Proprietary Limited Mopstyle Investments Proprietary Limited
Blue Label One Proprietary Limited One World Telecoms Proprietary Limited
Blue Label Ventures Proprietary Limited Reware Proprietary Limited
Blue Moon Asset Company Proprietary Limited Robtronics Proprietary Limited
Blu Nova Proprietary Limited Striide SA Proprietary Limited
Budding Trade 1170 Proprietary Limited The Prepaid Company Proprietary Limited
Cigicell Proprietary Limited TicketPros Proprietary Limited
CNS Call Centre Proprietary Limited Transaction Junction Namibia Proprietary Limited
Comm Equipment Company Proprietary Limited Transaction Junction Proprietary Limited
Comm Equipment Trading Company Proprietary Limited Uninex Proprietary Limited
Datacel Direct Proprietary Limited Ventury Group Proprietary Limited
Dunoworx Proprietary Limited Visual Revenue Management Proprietary Limited
Glocell Distribution Proprietary Limited WiConnect Proprietary Limited
Joint ventures and associates of Blue Label Telecoms Limited
2DFine Holdings Mauritius Utilities World Proprietary Limited
I Talk Holdings Proprietary Limited T3 Telecoms SA Proprietary Limited
Blue Label Communications Proprietary Limited

Related party balances

2022 Gross
carrying
amount
R’000		 Loss 
allowance 
R’000 		 Total
R’000
Loans to group companies (refer note 5.1)
Blue Label Company Proprietary Limited 37 098 (56) 37 042
Blue Label Ventures Proprietary Limited 12 000 (1 543) 10 457
Gold Label Investments Proprietary Limited 385 001 (385 001) —
The Prepaid Company Proprietary Limited 2 189 147 (198 050) 1 991 097
Uninex Proprietary Limited 976 —  976
2 624 222 (584 650) 2 039 572
2021
Blue Label Company Proprietary Limited 40 395 (411) 39 984
Blue Label Ventures Proprietary Limited 12 000 (1 371) 10 629
Gold Label Investments Proprietary Limited 376 551 (376 551) —
The Prepaid Company Proprietary Limited 2 021 559 (211 073) 1 810 486
Uninex Proprietary Limited 976 (74) 902
Cigicell Proprietary Limited 996 (75) 921
2 452 477 (589 555) 1 862 922
2022 Gross
carrying
amount
R’000		 Loss 
allowance 
R’000 		 Total
R’000
Loans to joint ventures (refer note 6)
2DFine Holdings Mauritius — —  —
2021
2DFine Holdings Mauritius 93 150 (93 150) —

Loans from related parties (refer note 5.2) 2022
R’000		 2021 
R’000 
Ventury Group Proprietary Limited —   (46 784)
Glocell Retail Solutions Proprietary Limited —   (542)
Reware Proprietary Limited —   (837)
I Talk Holdings Proprietary Limited —   (270)
—   (48 433)

Other receivables (refer note 7) 2022
R’000		 2021
R’000
Utilities World Proprietary Limited 5 885 –

Dividends received from related parties (refer note 14) 2022
R’000		 2021
R’000
Transaction Junction Proprietary Limited (33 000) (12 000)
Ventury Group Proprietary Limited (61 584) — 
Utilities World Proprietary Limited (5 885) — 
(100 469) (12 000)