Notes to the Group Annual Financial Statements | Note 4.3

4. NON-FINANCIAL INSTRUMENTS
4.3 Property, plant and equipment
 

Property, plant and equipment is stated at cost less accumulated depreciation and accumulated impairment loss, if any. The cost of property, plant and equipment includes directly attributable costs incurred, being the purchase cost plus any cost to prepare the assets for their intended use, and subsequent costs that may be capitalised.

Repairs and maintenance costs are charged to profit and loss as incurred.

The asset’s residual values and useful lives are reviewed, and adjusted if applicable, at year-end. Where the asset’s residual value is higher than the carrying value, no depreciation is provided.

Gains and losses on disposal of property, plant and equipment are determined as the difference between the carrying amount and the fair value of the sale proceeds, and are included in operating profit.

Leasehold improvements are depreciated over the shorter of the asset’s useful life and the lease term on a straight- line basis.

      Computer
equipment
R'000		 Media
equipment
R'000		 Furniture,
fittings and
office
equipment
R'000		 Motor
vehicles
R'000		 Leasehold
improvements
R'000		 Terminals
and vending
machines
R'000		 Land and
buildings
R'000		 Total
R'000
Year ended 31 May 2025                              
Opening carrying amount     42 318  34 303  16 565  15 865  13 345  92 849  —  215 245 
Additions     13 141  4 590  2 089  6 177  15 913  6 639  —  48 549 
Disposals     (289) —  (732) (3 560) (2 785) (4 425) —  (11 791)
Depreciation charge     (20 734) (5 190) (4 844) (5 584) (5 748) (27 986) —  (70 086)
Impairments*     —  —  —  —  —  (22 150) —  (22 150)
Closing carrying amount     34 436  33 703  13 078  12 898  20 725  44 927  —  159 767 
At 31 May 2025                             
Cost     106 596  50 847  28 899  37 082  28 658  124 093  —  376 175 
Accumulated depreciation     (72 160) (17 144) (15 821) (24 184) (7 933) (63 948) —  (201 190)
Accumulated impairments     —  —  —  —  —  (15 218) —  (15 218)
Carrying amount     34 436  33 703  13 078  12 898  20 725  44 927  —  159 767 
Year ended 31 May 2024                             
Opening carrying amount     27 231  22 486  12 407  29 949  13 381  115 785  3 123  224 362 
Additions     32 079  16 151  9 046  4 287  5 119  21 461  —  88 143 
Disposals     (151) (1) (296) (11 498) (309) (286) (3 123) (15 664)
Depreciation charge     (16 841) (4 333) (4 592) (6 873) (4 846) (31 694) —  (69 179)
Impairments*     —  —  —  —  —  (12 417) —  (12 417)
Closing carrying amount     42 318  34 303  16 565  15 865  13 345  92 849  —  215 245 
At 31 May 2024                             
Cost     104 695  46 257  38 119  38 496  73 139  215 518  —  516 224 
Accumulated depreciation     (62 377) (11 954) (21 554) (22 631) (59 794) (112 782) —  (291 092)
Accumulated impairments     —  —  —  —  —  (9 887) —  (9 887)
Carrying amount     42 318  34 303  16 565  15 865  13 345  92 849  —  215 245 

* Impairments of property, plant and equipment are included in depreciation and amortisation in profit or loss.

There are no property, plant and equipment assets that are encumbered.

Where the carrying amount of an asset is greater than its estimated recoverable amount, it is written down immediately to its recoverable amount.

Depreciation is calculated on the straight-line basis to write off the cost of the assets to their residual values over their estimated useful lives as follows:

Computer equipment 25% – 33.3%
Media equipment 10% – 20%
Furniture, fittings and office equipment 16.67% – 25%
Motor vehicles 20% – 25%
Terminals and vending machines 16.67% – 33.3%
Buildings 8.33%