ANNUAL FINANCIAL STATEMENTS 2023

For the year ended 30 September 2023

Annual Financial Statements
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25 TRADE AND OTHER PAYABLES
 
  GROUP   COMPANY
(R’million) 2023 2022   2023 2022
Trade payables 2 790,7 3 364,2      
Derivatives – 19,8      
Rebates and incentives accruals* 899,5 902,7      
Accruals 1 235,2 1 141,6      
VAT payable 151,3 14,0      
Other creditors 255,9 232,9   39,2 52,6
Defined benefit pension fund liability (refer to note 30) 2,7 2,5      
  5 335,3 5 677,7   39,2 52,6

* During the year, R5,6 billion (2022: R4,6 billion) was raised and R5,6 billion (2022: R4,6 billion) was settled

Trade payables are non-interest-bearing and are normally settled within 30 to 45-day terms.