Restricted cash comprises short-term deposits that are not highly liquid and are accounted for as loans and
receivables in accordance with the accounting policy disclosed in note 7.1.
|
| |
2015
Rm |
|
2014
Rm |
|
| Restricted cash deposits |
1 735 |
|
893 |
|
Restricted cash deposits includes amounts of R271 million (2014: R331 million) and R1 259 million (2014: R257 million) relating to the Syrian and Nigerian operations respectively, which are not available for use by the Group. In respect of Syria, this was due to exchange control regulations and a lack of foreign currency in the country. The restricted cash balance is considered to represent excess cash not required for payment of Syrian pound denominated liabilities.
Other restricted cash deposits (mainly relating to MTN Nigeria) consist of monies placed on deposit with banks to secure letters of credit, which were undrawn and not freely available at the reporting date. |
