Notes to the consolidated financial statements – Note 25

25.

Subsidiaries

A list of the Group’s significant subsidiaries, their country of incorporation and principal place of business, the Group’s percentage shareholding and an indication of their nature of business is included in annexure A of these financial statements.

The only subsidiary that has material minority interests is Bidvest Namibia Limited (Bidvest Namibia) a subsidiary listed on the Namibian Stock Exchange. The Group owns 50,9% (2013: 50,9%) of the issued capital of Bidvest Namibia, but accounts for 66,0% (2013: 66,0%) of its result as a result of a deferred sale of 15,1% of the shares it previously held.
    2014
R’000		     2013
R’000		  
  Contribution to minority interests          
  Profit allocated to minority interest          
     Bidvest Namibia 181 799     245 205  
        Minorities of Bidvest Namibia 83 802     93 296  
        Minorities of Bidvest Namibia subsidiaries 97 997     151 909  
     Other minorities 51 553     34 779  
  Total profit allocated to minority interest 233 352     279 984  
  Accumulated minority interest          
     Bidvest Namibia 1 003 118     963 752  
        Minorities of Bidvest Namibia 546 522     512 173  
        Minorities of Bidvest Namibia subsidiaries 456 596     451 579  
     Other minorities 227 115     213 375  
  Total accumulated minority interest 1 230 233     1 177 127  
  The summarised financial information below of Bidvest Namibia represents amounts before inter-group eliminations:          
  Statement of financial position items          
  Current assets 1 759 359     1 784 883  
  Non-current assets 1 005 159     993 676  
  Current liabilities (454 654)     (586 332)  
  Non-current liabilities (244 703)     (233 182)  
  Minority interests (456 596)     (451 579)  
  Equity attributable to the owners of the company (1 608 565)     (1 507 466)  
  Statement of comprehensive income items          
  Revenue 3 703 495     3 294 235  
  Expenses (3 202 521)     (2 695 138)  
Profit attributable to the owners of the company 245 745     274 596
  Profit attributable to minorities 97 997     151 909  
  Profit for the year 343 742     426 505  
  Other comprehensive income attributable to owners of the company 2 480     8 550  
  Other comprehensive income attributable to minorities 2 852     8 899  
Other comprehensive income for the year 5 332     17 449
  Dividends paid to minorities 95 832     63 557  
  Statement of cash flow items          
  Cash inflow from operating subsidiaries 23 120     228 359  
  Cash outflow from investing activities (76 490)     (190 641)  
  Net cash inflow (outflow) (53 370)     37 718  
  Full details of Bidvest Namibia’s results can be found on their website www.bidvest.com.na.          

Notes to the consolidated financial statements – Note 25