Notes to the Group annual financial statements | Note 2.2

1. Significant accounting policies
2.2 Non-controlling interests
 

Set out below is the summarised financial information relating to each subsidiary that has non-controlling interests that are material to the Group. The amounts disclosed for each subsidiary are before inter-company eliminations with other companies in the Group.

Subsidiary TJ Group1 Glocell Distribution
Proprietary
Limited2		 Blue Label Data
Solutions		 Cigicell Proprietary
Limited3
Principal place of business South Africa South Africa South Africa South Africa
Segment Africa Distribution Africa Distribution Solutions Africa Distribution
NCI (%) 2022
40
R’000		 2021
40
R’000		 2022
—
R’000		 2021
52
R’000		 2022
19
R’000		 2021
19
R’000		 2022
26
R’000		 2021
26
R’000
Non-current assets 16 733   23 653 —   31 041 52 358   22 803 49 113   12 263
Current assets 84 571   114 026 —   144 781 69 088   66 090 664 933   405 249
Total assets 101 304   137 679 —   175 822 121 446   88 893 714 046   417 512
Capital and reserves 74 778   108 623 —   (56 406) 72 944   56 802 196 005   34 588
Non-current liabilities 11 471   11 443 —   4 990 1 153   570 23   —
Current liabilities 15 055   17 613 —   227 238 47 349   31 521 518 018   382 924
Total equity and liabilities 101 304   137 679 —   175 822 121 446   88 893 714 046   417 512
Accumulated NCI4 31 530   43 449 —   (29 331) 13 859   10 792 51 215   8 545
Summarised statement of comprehensive income for the year ended 31 May                        
Revenue 134 734   134 195 —   286 701 230 589   184 130 304 440   300 655
Total comprehensive income for the year 25 203   32 915 —   37 785 31 142   28 439 181 417   34 052
Comprehensive income allocated to NCI 10 081   13 166 —   19 648 5 917   5 403 47 869   8 868
Summarised cash flows for the year ended 31 May                        
Cash flows generated from operating activities 34 845   53 919 —   26 961 16 171   26 302 54 210   35 312
Cash flows generated from/(utilised in) investing activities 3 225   (48 671) —   (72 704) 9 256   910 (1 378)   (16 129)
Cash flows (utilised in)/ from financing activities (56 173)   (17 441) —   (1 294) 13 488   (39 882) (64 507)   4 292
Net (decrease)/ increase in cash and cash equivalents (18 103)   (12 193) —   (47 037) 38 915   (12 670) (11 675)   23 475
Dividends paid to NCI 22 000   8 000 —   36 346 2 850   7 600 5 200   5 200
1 The TJ Group consists of Transaction Junction Proprietary Limited and Transaction Junction (Namibia) Proprietary Limited.
2 In the prior year, management applied its judgement in concluding that The Prepaid Company Proprietary Limited (TPC), a wholly owned subsidiary of
Blue Label Telecoms Limited, had control of Glocell due to the fact that TPC controls all distributions made by Glocell to its shareholders, the
application of all free cash, the incurral of any debt by Glocell other than in the ordinary course of its business, the sale of any of Glocell's assets and
any loans granted by Glocell. In the current year, the remaining 52% holding in Glocell was purchased by TPC. The revenue generated up until the
date of sale is immaterial. Refer to note 6.2.
3 Cigicell Proprietary Limited includes its subsidiary, Visual Revenue Management Proprietary Limited (VRM).
4 Accumulated NCI excludes the share-based payment reserve adjustments because the awards are treated as cash-settled in the separate entities’ financial statements.