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Condensed consolidated statement of cash flows
for the year ended 31 March
Rm
2018
2017
Cash generated from operations
32 299
31 791
Tax paid
(6 194)
(6 051)
Net cash flows from operating activities
26 105
25 740
Cash flows from investing activities
Additions to property, plant and equipment and
intangible assets
(10 825)
(11 689)
Proceeds from disposal of property, plant and equipment
and intangible assets
187
73
Acquisition of subsidiary and associate (net of cash and
cash equivalents acquired)
(410)
(285)
Proceeds on disposal of associate
797
–
Dividends received from associate
1 988
–
Finance income received
859
689
Repayment of loans granted
–
295
Other investing activities
1
(1 122)
(1 278)
Net cash flows utilised in investing activities
(8 526)
(12 195)
Cash flows from financing activities
Borrowings incurred
1 124
4 000
Borrowings repaid
(107)
(1 568)
Finance costs paid
(3 182)
(2 699)
Dividends paid – equity shareholders
(13 010)
(11 657)
Dividends paid – non-controlling interests
(393)
(91)
Repurchase and sale of shares
(269)
(134)
Changes in subsidiary holdings
2 770
240
Net cash flows utilised in financing activities
(13 067)
(11 909)
Net increase in cash and cash equivalents
4 512
1 636
Cash and cash equivalents at the beginning of the year
8 873
7 751
Effect of foreign exchange rate changes
(847)
(514)
Cash and cash equivalents at the end of the year
12 538
8 873
1. Consists mainly of the movement in restricted cash deposits of R821 million (2017: R836 million) as a result
of M-Pesa-related activities.
Increase driven by strong EBITDA
performance.
Proceeds from HTT disposal.
Share of Safaricom dividend.
R1 billion loan from Vodafone.
Mainly finance lease repayments.
Cash inflow from Vodacom Tanzania listing
in current year.
Decrease due to lower capital expenditure.
Impacted by R246 million minority dividend
on Vodafone Kenya Limited investment.
Acquisition of interest in Safaricom.
45
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