Notes to the consolidated annual financial statements l Note 24   Rm  2016     2015     24.  Cash and cash equivalents                 Bank and cash balances1  7 934     9 250        Bank overdrafts2  (183)    (380)          7 751     8 870       The carrying amount of cash and cash equivalents normally approximates its fair value due to short-term maturity.   Notes:   1. Included in the bank and cash balances is an amount of R149 million which represents the call deposits of Vodacom Insurance Company (RF) Limited and Vodacom Life Assurance Company (RF) Limited. The call deposits are invested based on the asset spread requirement in terms of the Long-Term and Short-Term Insurance Act of 1998.   2. Bank overdrafts, excluding those classified as financing activities in the statement of cash flows, are regarded as part of the Group’s integral cash management system.