Notes to the consolidated annual financial statements | Note 21

  Rm 2018   2017  
21. Consolidated statement of cash flows reconciliations        
21.1 Cash generated from operations        
  Profit before tax  22 093     19 228    
   Adjusted for:             
       Profit on sale of associate  (734)    –    
       Finance income  (703)    (777)   
       Finance costs  2 811     2 818    
       Net loss on remeasurement and disposal of financial instruments  785     481    
   Operating profit  24 252     21 750    
   Adjusted for:             
       Depreciation and amortisation (Notes 9 and 10) 9 959     9 251    
       Net loss on disposal of property, plant and equipment and intangible assets  (9)    58    
       Impairment losses (Note 2) 4     84    
       Bad debt  451     266    
       Share-based payment  315     240    
       Net profit from associate and joint venture  (1 507)    (1)   
   Cash flows from operations before working capital changes  33 465     31 648    
       Decrease in inventory  13     378    
       Increase in trade and other receivables  (1 948)    (1 793)   
       Increase in trade and other payables and provisions  769     1 558    
   Cash generated from operations  32 299     31 791    
  Rm Derivative
financial
liabilities		 Borrowings Other  
liabilities 1		 Total  
21.2 Changes in liabilities arising from financing activities          
   31 March 2017  89  31 375  145  31 609    
   Cash flow movements  (456) (1 457) (252) (2 165)   
       Settlement of derivatives  (456) –  –  (456)   
       Repayment of borrowings  –  (107) –  (107)   
       Proceeds from borrowings raised  –  1 124  –  1 124    
       Interest paid on borrowings  –  (2 474) (252) (2 726)   
   Non-cash flow movement  574  2 373  229  3 176    
       Addition to finance lease  –  150  –  150    
       Interest accrual  –  2 526  246  2 772    
       Fair value adjustments  574  –  –  574    
       Foreign exchange  –  (296) (17) (313)   
       Other  –  (7) –  (7)   
   31 March 2018  207  32 291  122  36 620    
  Note:
1. The ’Other liabilities’ column mainly includes the movement of the interest payable to M-pesa creditors as well as interest accrued and paid on bank overdrafts.

Notes to the consolidated annual financial statements | Note 21