Notes to the Group financial statements | Note 36
for the year ended 31 December 2010
 
36. INVESTMENT IN JOINT VENTURES
 

The Group had the following effective percentage interests in joint ventures.

Unless otherwise stated, the Group’s joint ventures country of incorporation is also their principal place of operation.

          Effective % interest in issued
ordinary share capital		  
  Joint venture Principal activity Country of
incorporation		   December
2010		     December
2009		  
  Swazi MTN Limited Network operator Swaziland   30     30  
  MTN Mobile Money Holdings (Proprietary) Limited Wireless banking services South Africa   50     50  
  Deci Investments Investment holding company Botswana   33     33  
  Mascom Wireless Botswana Limited Network operator Botswana   53     53  
  Irancell Telecommunication Company Services                
  (Proprietary) Limited Network operator Iran   49     49  
  Village Phone Rwanda Airtime sales Rwanda   *     50  
  Satellite Data Networks Mauritius (Proprietary) Limited Internet service provider Mauritius   60     60  

* The investment in Village Phone Rwanda was increased to a 100% subsidiary during the current year for an immaterial amount.

Summary financial information

The following table presents, on a condensed basis the Group’s share of assets and liabilities, revenue and expenses of the joint ventures which are included in the consolidated statement of financial position and income statement.

        December
2010
Rm		       December
2009
Rm		  
  Revenue     10 206       8 592  
  Expenses     (5 915)       (5 457)  
  Non-current assets     7 312       7 780  
  Current assets     4 954       3 691  
  Total assets     12 266       11 471  
  Non-current liabilities     (3 812)       (4 704)  
  Current liabilities     (7 241)       (6 338)  
  Total liabilities     (11 053)       (11 042)  

There are no significant contingent liabilities and capital commitments relating to the Group’s interests in these joint ventures.