| |
Loans and other non-current receivables are accounted for as loans and receivables in
accordance with the accounting policy disclosed in note 7.1.
Prepayments include costs paid relating to subsequent financial years and are stated at
nominal value. |
| |
2017
Rm |
|
2016
Rm |
|
| Loan to Uganda Tower InterCo B.V.1 |
452 |
|
1 099 |
|
| Loan to Ghana Tower InterCo B.V.2 |
905 |
|
1 051 |
|
| Loan to Nigeria Tower InterCo B.V.3 |
– |
|
2 863 |
|
| Non-current interconnect receivables |
124 |
|
224 |
|
| Other non-current receivables |
1 276 |
|
1 253 |
|
| Non-current prepayments4 |
753 |
|
876 |
|
| |
3 510 |
|
7 366 |
|
| 1 |
During the current year, the group converted its variable interest loan to its associate, Uganda Tower InterCo B.V.
with a balance of US$80,1 million, into additional equity of US$48,3 million and a replacement note in Ugandan
shillings for the remaining balance. The replacement note attracts interest at a fixed rate of 16,8% per annum, and
is repayable in 2023. The original note attracted interest at LIBOR + 5,3% per annum and was repayable in 2019. |
| 2 |
The loan to Ghana Tower InterCo B.V. attracts interest at a fixed interest rate of 21,87% per annum. The loan is
repayable in 2019. |
| 3 |
The loan to INT Towers attracted interest at a fixed interest rate of 10% per annum, subject to review, and was repayable
in 2024 and 2025. This loan was assigned to IHS on 27 December 2017. Refer to note 2.6 for further information. |
| 4 |
Includes prepaid rent and Global Carrier Services cables. |
The recoverability of the loans was assessed at the reporting date and was found not to be
impaired.
No impairment was recognised in the current or prior year.
|
