Table of contents

TLG Capital
GetBucks Financial Services (Private) Limited
(Zimbabwe)
The loan is secured by a guarantee issued by NMB
Bank on the back of a security provided by Brainworks
Capital Management (Private) Limited. The loan bears
interest at 15% per annum, carried by GetBucks
Financial Services (Private) Limited (Zimbabwe) with an
additional 8% per annum carried by GetBucks Limited
(Mauritius). Interest and fees are paid quarterly and
the capital repayment date will be 6 February 2020.
GetBucks Limited (Mauritius)
The loan bears interest at 19% per annum. Interest
is paid monthly and the loan is repayable by 31
December 2017.
EMU-INYA Enterprises Limited (Kenya)
The loan bore interest at 15% per annum and
was valid for 6 months and was originally repayable
by 7 September 2016.
GetBucks Limited (Malawi)
Interest rate of 7%, interest repaid on a monthly basis.
Capital was originally repayable by
27 November 2016.
TLG loan is subject to covenants as describe in
note 3.
As a result of a temporary breach in certain of the
covenants, the TLG loans have all been reclassified as
current liabilities.
The TLG loan facilities were renegotiated in January
2017. The new agreement provides that the maturity
date on all loans outstanding will be 1 February 2021.
This is still conditional upon a due diligence process
and formal approval.
2 251 800 2 251 596
917 233 -
2 251 659 -
2 238 078 -
Al Shams Global Limited
The current loan is secured and bears interest at 30%
per annum. Interest is paid monthly and the loan will
be settled in July 2016. This loan was issued in June
2015 to the value of €4,503,600 ($5,000,000).
The loan is secured by:
A corporate guarantee in the form of an irrevocable
cession on its debtor’s book asset from GetBucks
Financial Services (Private) Limited (Zimbabwe) to the
value of the amount outstanding.
A corporate guarantee in the form of an irrevocable
cession on its debtor’s book asset from GetBucks
Financial Services Limited (Zambia) to the value of the
amount outstanding.
$7,000,000 in shares in Dawn Properties Limited
provided by Brainworks Capital Limited.
Escalator Investments (Zambia) *
The loan is unsecured, bears interest at 24% per
annum and is repayable by 30 June 2017.
Escalator Investments (Swaziland) *
€165.960 (R2,250,000) was drawn against this
facility every month until 30 June 2016. The loan was
unsecured and bore interest at 11% per annum.
The loan facility was for 36 months and was settled by
30 June 2017.
Ecsponent Credit Services (Proprietary) Limited
(South Africa) *
€358,723 (R4,863,711)
The loan facility was drawn on variable dates. The
facility bore interest at 24% per annum. This was a
rolling facility and the debt did not exceed 90 days.
€36,880 (R500,000)
The loan was unsecured, bore no interest and was
settled before 30 September 2015.
4 615 739 4 487 259
- 721 796
- 1 862 440
- 395 603
Ecsponent Credit Services (Proprietary) Limited
(South Africa) *
This amount was owed by GetBucks South Africa
for the purchase of the Komo Finance loan book.
GetBucks South Africa has ceded and pledged its
debtors book to continually cover the value of one
and a half times the purchase price €3,179,296
(R52 million) as security. The loan bore interest at 11%
per annum. The loan was repaid on 4 July 2016.
J Bethel Capital Limited
The loan was unsecured and bore interest at 20% per
annum. Interest was payable monthly and the loan
was settled by 31 December 2016.
LF Rehrl
The loan is unsecured, bears interest at 10% per
annum and has no fixed terms of repayment.
NMB Bank-Bill of acceptance
This loan replaced the overdraft facility in GetBucks
Financial Services (Private) Limited (Zimbabwe) for one
month. The loan was unsecured, bore interest at 15%
per annum and matured on 20 July 2015.
- 3 414 879
1 373 599 -
33 608 -
- 2 243 250
26 769 482 26 263 424
Non-current liabilities 626 485 10 617 496
Current liabilities 26 142 997 15 645 928
26 769 482 26 263 424
*Ecsponent Projects (Proprietary) Limited (Botswana) acquired shares in the Company
and became a shareholder of the Group during the current year. This rendered Ecsponent
Capital (RF) Limited, Ecsponent Credit Services (Proprietary) Limited and Escalator
Investments to become related parties of the Group and thus loans to/from Ecsponent
Credit Services (Proprietary) Limited and Escalator Investments are now classified as related
party balances.
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MyBucks Annual Report 2016 130
131 MyBucks Annual Report 2016