Notes to the consolidated annual financial statements | Note 28

28. Interest in subsidiaries
  Information disclosed below are for subsidiaries of the Group that have material non-controlling interests.
28.1 Vodacom Tanzania Public Limited Company (VTLPLC)
  The Group holds a 82.2% interest in VTPLC (of which 65% is held directly by Vodacom Group Limited) which operates and is incorporated in Tanzania. There are no restrictions on VTPLC’s ability to access or use assets, and settle liabilities of the Group.

  Rm 2017    2016   
  Statement of financial position        
  Non-current assets  4 887     5 080    
   Current assets  3 786     4 291    
   Total assets  8 673     9 371    
   Equity attributable to owners of the parent  (2 884)    (3 279)   
   Non-controlling interests1  (627)    (718)   
   Non-current liabilities  (534)    (367)   
   Current liabilities  (4 628)    (5 007)   
   Total equity and liabilities  (8 673)    (9 371)   
   Income statement             
   Revenue  5 969     5 962    
   Net profit attributable to equity shareholders  34     98    
   Net profit attributable to non-controlling interests  7     21    
   Net profit  41     119    
   Statement of cash flows             
   Net cash flows from operating activities  1 747     2 096    
   Net cash flows utilised in investing activities  (966)    (1 577)   
   Net cash flows utilised in financing activities  (763)    (355)   
   Net increase in cash and cash equivalents  18     164   
 

VTPLC is currently in the process of a mandatory listing of 25% of their authorised share capital through an initial public offering on the Dar es Salaam Stock Exchange. The listing of shares is expected to take place in June 2017. Further details may be found in the directors’ report.

    Note:
  • Dividend paid to non-controlling interests amounted to R19 million (2016: RNil).

28.2 Vodacom Congo (RDC) SA (Vodacom Congo)
  The Group holds a 51% interest in Vodacom Congo which operates and is incorporated in The Democratic Republic of Congo. There are no restrictions on Vodacom Congo’s ability to access or use assets, and settle liabilities of the Group.

  Rm 2017    2016   
  Statement of financial position        
  Non-current assets 5 300     5 873    
   Current assets  2 310     1 797    
   Total assets  7 610     7 670    
   Equity attributable to owners of the parent  4 542     4 451    
   Non-controlling interests  2 311     2 228    
   Non-current liabilities  (1 062)    (1 151)   
   Current liabilities  (13 401)    (13 198)   
   Total equity and liabilities  (7 610)    (7 670)   
   Income statement             
   Revenue  5 726     5 919    
   Net loss attributable to equity shareholders  (403)    (121)   
   Net loss attributable to non-controlling interests  (388)    (116)   
   Net loss  (791)    (237)   
   Statement of cash flows             
   Net cash flows from operating activities  1 894     1 486    
   Net cash flows utilised in investing activities  (1 359)    (2 208)   
   Net cash flows from financing activities  (110)    640    
   Net increase/(decrease) in cash and cash equivalents  425     (82)  

28.3 VM, SA
  The Group holds a 85% interest in VM, SA which operates and is incorporated in Mozambique. There are no restrictions on VM, SA’s ability to access or use assets, and settle liabilities of the Group.

  Rm 2017    2016   
  Statement of financial position        
  Non-current assets  2 553     3 578    
   Current assets  1 064     1 530    
   Total assets  3 617     5 108    
   Equity attributable to owners of the parent  (1 753)    (2 606)   
   Non-controlling interests  (173)    90    
   Non-current liabilities  (125)    (151)   
   Current liabilities  (1 566)    (2 441)   
   Total equity and liabilities  (3 617)    (5 108)   
   Income statement             
   Revenue  3 059     3 809    
   Net profit attributable to equity shareholders  108     104    
   Net profit attributable to non-controlling interests  19     18    
   Net profit  127     122    
   Statement of cash flows             
   Net cash flows from operating activities  968     1 260    
   Net cash flows utilised in investing activities  (765)    (1 242)   
   Net cash flows from financing activities  (446)    570    
   Net (decrease)/increase in cash and cash equivalents  (243)    588   

28.4 Vodacom Lesotho (Pty) Limited (Vodacom Lesotho)
  The Group holds a 80% interest in Vodacom Lesotho which operates and is incorporated in Lesotho. There are no restrictions on Vodacom Lesotho’s ability to access or use assets, and settle liabilities of the Group.

  Rm 2017    2016   
  Statement of financial position        
  Non-current assets  809     694    
   Current assets  284     192    
   Total assets  1 093     886    
   Equity attributable to owners of the parent  (827)    (527)   
   Non-controlling interests1  82     (132)   
   Non-current liabilities  (28)    (17)   
   Current liabilities  (320)    (210)   
   Total equity and liabilities  (1 093)    (886)   
   Income statement             
   Revenue  1 116     1 027    
   Net profit attributable to equity shareholders  257     232    
   Net profit attributable to non-controlling interests  64     58    
   Net profit  321     290    
   Statement of cash flows             
   Net cash flows from operating activities  503     391    
   Net cash flows utilised in investing activities  (201)    (234)   
   Net cash flows utilised in financing activities  (235)    (199)   
   Net increase/(decrease) in cash and cash equivalents  67     (42)   

 
    Note:
  • Dividend paid to non-controlling interest amounted to R47 million (2016: R40 million).