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Group Company
2003 2002 2003 2002
R000 R000 R000 R000
32. INVESTING ACTIVITIES
Acquisition of fixed assets (82 622) (73 785) – –
Disposal of fixed assets 2 137 2 881 – –
Additional holdings in associates acquired (1 313) (4 405) – –
Additional holdings in subsidiaries acquired (refer note 32.1) (77 880) (2 335) – (516 500)
Sale of holdings in subsidiaries (refer note 32.2) 21 975 – – –
Decrease/(increase) in liquid assets and short-term investments 143 144 (151 909) – –
Decrease in loans to joint venture partners – 42 841 – –
Increase/(decrease) in loans from subsidiaries – – 7 316 (36 500)
Dividends paid to outside shareholders in subsidiaries (17 102) (9 092) – –
Dividends received from associates – 711 – –
(11 661) (195 093) 7 316 (553 000)
32.1 Additional holdings in subsidiaries acquired
Net asset value of additional shares acquired 54 197 2 335 (130) 516 500
Goodwill arising/(reversing) 23 683 – (3 200) –
Cost of additional shares in subsidiaries 77 880 2 335 (3 330) 516 500
Less: Cash acquired – – – –
Add: Net assets acquired for no consideration – – 3 330 –
Net cash outflow/(inflow) on acquisition 77 880 2 335 – 516 500
32.2 Sale of holdings in subsidiaries
Net asset value of asset sold 23 276 – – –
Profit/(loss) on sale of assets (1 301) – – –
Consideration received 21 975 – – –
33. FINANCING ACTIVITIES
Increase/(decrease) in long-term loans (15 104) 1 342 663 – –
Increase/(decrease) in liabilities to depositors 194 153 (615 483) – –
179 049 727 180 – –
34. CASH AND CASH EQUIVALENTS
Short-term deposits and cash 1 148 562 835 460 1 391 3 553
Bank overdraft (150) (19 846) – –
Statutory cash reserves – insurance 197 469 – – –
1 345 881 815 614 1 391 3 553
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African Bank Investments Limited