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 on Annexure A of these financial statements.

During the current year the Group's 2009 deferred sale of 13.7% of Bidvest Namibia to local empowerment partners was dismantled and 29 million Bidvest Namibia ordinary shares were returned to the Group in settlement of the outstanding debt.

In June 2019 the Group acquired the 72 million ordinary shares it did not own in Bidvest Namibia Limited (Bidvest Namibia) for R758 million. Following the acquisition, the Group owns 100% of the share capital and voting rights of Bidvest Namibia, which has been delisted from the Namibian Stock Exchange (NSE). The acquisition and delisting follows the sale of the Namibian fishing business, in the prior year, and constitutes another step in the restructure of the Group's investment in the Republic of Namibia. The purchase price was funded from existing cash resources and facilities.

None of the Group's subsidiaries had a material non-controlling interests at year-end.