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Annual financial statements
Borrowings
Download pdf| 26 | Borrowings In terms of the group’s delegation of authority, the group’s borrowings are subject to specific approval processes. Any secured and unsecured loans are all at floating rates, unless otherwise stated. |
| 26.1 |
Current year movements in relation to leases are as follows: |
| GROUP | ||||
| (R'million) | 2022 | 2021 | ||
| Opening balance (1 October) | 567,3 | 336,2 | ||
|---|---|---|---|---|
| New leases and lease modifications | 132,2 | 447,8 | ||
| Accretion of interest | 37,9 | 38,1 | ||
| Payments | (216,5) | (254,8) | ||
| 520,9 | 567,3 | |||
| The group utilised an IBR between 5,2% and 9,8% for the different classes of assets identified. | ||||
| Leases liabilities relate to right-of-use assets with a book value of R469,0 million (2021: R525,2 million) as per note 12.3. | ||||
| The maturity analysis of lease liabilities is disclosed in note 32.4. | ||||
| 26.2 | Long-term borrowings | |||
| Long-term portion of lease liability | 326,5 | 399,0 | ||
| 26.3 | Short-term borrowings | 1 167,2 | 168,3 | |
| Short-term borrowings* | 972,8 | – | ||
| Short-term portion of lease liability | 194,4 | 168,3 | ||
| * | Relates to the utilisation of a borrowing facility with the group’s primary banking partner. |