Related party transactions constitute the transfer of resources, services or obligations between the Group and a
party related to the Group, regardless of whether a price is charged. For the purposes of defining related party
transactions with key management, key management has been defined as directors and the Group’s executive
committee and includes close members of their families and entities controlled or jointly controlled by these
individuals. |
| |
2015
Rm |
|
2014
Rm |
|
| Key management compensation |
|
|
|
|
| Salaries and other short-term employee benefits |
97 |
|
77 |
|
| Post-employment benefits |
8 |
|
7 |
|
| Other benefits |
26 |
|
8 |
|
| Bonuses |
2 |
|
62 |
|
| Compensation for loss of office |
54 |
|
– |
|
| Total |
187 |
|
154 |
|
Details of directors’ remuneration are disclosed in of the financial statements.
Subsidiaries
Details of investments in subsidiaries are disclosed in of the financial statements.
Changes in shareholding
There were no transactions with non-controlling shareholders or changes in shareholding in any of the Group’s
subsidiaries during the current and prior years (see ).
Joint ventures
Details of the Group’s investments in and share of results and dividend income from its joint ventures are disclosed
in note 9.2 of the financial statements.
Details of other transactions and balances with joint ventures are set out below:
| |
Net income for
the year |
|
Net balance receivable/
(payable) |
| |
2015
Rm |
|
2014
Rm |
|
2015
Rm |
|
2014
Rm |
| Swazi MTN Limited |
50 |
|
6 |
|
101 |
|
36 |
| Mascom Wireless Botswana Proprietary Limited |
1 |
|
2 |
|
8 |
|
– |
| Irancell Telecommunication Company Services (PJSC) |
713 |
|
212 |
|
17 988 |
|
11 070 |
| Middle East Internet Holding S.A.R.L (MEIH) |
– |
|
– |
|
(672) |
|
(1 115) |
| African Internet Holding GmbH (AIH) |
– |
|
– |
|
(100) |
|
(1 592) |
| International Digital Services Middle East Holding GmbH (iME) |
– |
|
|
|
(334) |
|
|
Associates
Details of the Group’s investments in and share of results and dividend income from its associates are disclosed in of the financial statements.
Details of other transactions and balances with associates are set out below:
| |
Net income for the year |
|
Net balance receivable |
| |
2015
Rm |
|
2014
Rm |
|
2015
Rm |
|
2014
Rm |
| Belgacom International Carrier Services SA |
331 |
|
386 |
|
112 |
|
141 |
| Ghana Tower InterCo B.V. |
177 |
|
159 |
|
1 112 |
|
2 025 |
| Uganda Tower InterCo B.V. |
50 |
|
44 |
|
1 162 |
|
889 |
| Nigeria Tower InterCo B.V. |
166 |
|
– |
|
2 900 |
|
1 039 |
Transactions between members of the Group
Scancom Limited (MTN Ghana) entered into operating lease agreements with Ghana Tower InterCo B.V. The
operating lease commitments amount to R8 353 million at 31 December 2015 (2014: R2 762 million). The rental
amounts escalate every year by inflation and the initial term is 10 years, followed by four times five-year renewal
periods.
MTN Uganda Limited entered into operating lease agreements with Uganda Tower InterCo B.V. The operating lease
commitments amount to R3 109 million (2014: R2 364 million) at 31 December 2015. The rental amounts escalate
every year by inflation and the initial term is 10 years, followed by four times five-year renewal periods.
MTN Nigeria Communications Limited entered into operating lease agreements with INT Towers Limited, a wholly
owned subsidiary of Nigeria Tower InterCo B.V. The operating lease commitments amounted to R42 616 million
(2014: R17 843 million) at 31 December 2015. The initial term is 10 years, followed by four times five-year renewal
periods.
Shareholders
The principal shareholders of the Company are disclosed in Annexure 1, which is unaudited. |
