Summary Group statement of cash flows for the year ended 31 December 2022

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Note   2022 
Rm 		     2021 
Rm 
Net cash generated from operating activities       68 121        67 286 
Cash generated from operations       94 247        88 670 
Interest received       1 873        1 161 
Interest paid       (14 417)       (12 145)
Dividends received from joint ventures       371        554 
Income tax paid       (13 953)       (10 954)
Net cash used in investing activities       (43 436)       (30 953)
Acquisition of property, plant and equipment       (31 398)       (24 413)
Acquisition of intangible assets       (13 786)       (10 812)
Proceeds from sale of investments in associates  18.1     –        1 807 
Increase in non-current investments and joint venture       (65)       (22)
Proceeds from sale of MTN South Africa tower sale       6 355        
Proceeds from exit in Yemen, net of cash deconsolidated       –        (900)
Acquisition of right-of-use asset1       (628)       – 
Realisation of non-current investment bonds       157        667 
Purchase of non-current investment bonds and fixed deposits       (147)       (121)
Realisation of current investment bonds, treasury bills and foreign deposits       335        4 521 
Increase in restricted cash       (9 384)       (11 744)
Decrease in restricted cash       5 326        10 242 
Cash acquired on acquisition of subsidiary       –        68 
Cash deconsolidated on loss of control       –        (228)
Movement in other investing activities       (201)       (18)
Net cash used in financing activities       (17 419)       (26 179)
Proceeds from MTN Nigeria secondary offer       1 970        – 
Purchase of treasury shares       (1 417)       – 
Consideration received on MTN Ghana share localisation       234        – 
Consideration received on transaction with MTN Ghana non-controlling interests       267        – 
Proceeds from borrowings  15     25 000        23 754 
Repayment of borrowings  15     (28 134)       (43 953)
Repayment of lease liabilities       (7 405)       (5 949)
Dividends paid to equity holders of the Company       (5 414)       – 
Dividends paid to non-controlling interests       (3 689)       (2 084)
Proceeds from MTN Uganda initial public offering       103        2 191 
Acquisition of additional shares in aYo       –        (257)
Proceeds from disposal of shares in aYo  18.2     702        – 
Other financing activities       364        119 
Net increase in cash and cash equivalents       7 266        10 154 
Net cash and cash equivalents at beginning of the year       39 019        30 636 
Exchange losses on cash and cash equivalents       (2 280)       (1 515)
Net monetary gain/(loss) on cash and cash equivalents       175        (380)
(Increase)/decrease in cash classified as held for sale  18.4     (546)       124 
Net cash and cash equivalents at end of the year       43 634        39 019 

1 Relates to fully prepaid leases.