| Company |
|
|
|
Group |
| 2020 |
2019 |
|
(R’million) |
2020 |
2019 |
| |
|
|
16 |
Loans |
|
|
| |
|
|
|
Loans to empowerment entities (refer note 16.1) |
|
|
| – |
567,0 |
|
|
– Tiger Brands Foundation** |
|
|
| – |
113,1 |
|
|
– Thusani II** |
|
|
| |
|
|
|
Dipuno ESD Foundation SPV (RF) Pty Ltd* |
27,8 |
25,5 |
| 2,5 |
2,5 |
|
|
Other |
2,5 |
3,1 |
| |
|
|
|
|
|
|
| 2,5 |
682,6 |
|
|
|
30,3 |
28,6 |
| |
|
|
|
| * |
This relates to the long-term portion of the loan to Dipuno
ESD Foundation SPV (RF) Pty Ltd (Dipuno). During the
current year, an additional R20 million was advanced as
a loan to Dipuno. A day-one fair value loss of R8,3 million and impairment of R11,7 million were recognised in the
current year. |
| ** |
During the year, these loans were impaired. |
|
|
|
| |
|
|
16.1 |
Loans to empowerment entities |
|
|
| |
|
|
|
Loans to empowerment entities consist of
accrued dividends receivable on the investment
in preference shares in connection with the BEE
Phase II empowerment transaction (refer note
15). Preference dividends are calculated based
on 93,5% of the prime interest rate prevailing
from time to time. |
|
|
