Group statement of cash flows

for the year ended 31 December 2017

	Note	2017 Rm	2016 Rm
CASH FLOWS FROM OPERATING ACTIVITIES
Cash generated from operations	2.8	38 484	55 681
Finance income received		2 607	1 985
Finance costs paid		(3 409)	(4 968)
Income tax paid	3.3	(7 596)	(11 704)
Dividends paid to equity holders of the company		(12 565)	(19 792)
Dividends paid to non-controlling interests		(956)	(1 178)
Dividends received from associates		213	205
Dividends received from joint ventures		6 916	487
Net cash generated from operating activities		23 694	20 716
CASH FLOWS USED IN INVESTING ACTIVITIES
Acquisition of property, plant and equipment		(23 861)	(29 899)
Acquisition of intangible assets		(2 800)	(5 348)
Proceeds from sale of property, plant and equipment and intangible assets		74	388
Increase in non-current investments		(820)	(2 199)
Acquisition of businesses, net of cash acquired		–	(882)
Loans granted		(56)	(52)
Increase in investment in insurance cell captives		(200)	(90)
Realisation/(purchase) of bonds, treasury bills and foreign deposits		1 849	(2 704)
(Increase)/decrease in restricted cash		(1 727)	309
Other investing activities		(44)	69
Net cash used in investing activities		(27 585)	(40 408)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from borrowings	2.9	23 287	59 647
Repayment of borrowings	2.9	(24 606)	(35 169)
Interest paid on borrowings	2.9	(3 828)	(2 042)¹
Buy-back of shares from MTN Zakhele		–	(2 645)
Premium received on option issued to MTN Zakhele Futhi		192	1 185
Other financing activities		36	(25)
Net cash (used in)/from financing activities		(4 919)	20 951
Net (decrease)/increase in cash and cash equivalents		(8 810)	1 259
Net cash and cash equivalents at the beginning of the year		27 375	34 139
Exchange losses on cash and cash equivalents		(2 664)	(8 192)
Net monetary gain on cash and cash equivalents		36	169
Net cash and cash equivalents at the end of the year	4.4	15 937	27 375

¹	Interest paid on borrowings previously included as part of repayment of borrowings.