2020 
R'000 		     2019 
R'000 		   

20.

Interest in associates and joint ventures

          
  Listed associates  –      4 551 484    
     Net asset value at acquisition  114 034      1 734 216    
     Inherent goodwill  306 707      4 428 883    
     Impairment allowances  (420 741)     (1 611 615)   
  Unlisted associates  585 376      41 229    
     Net asset value at acquisition  717 823      166 484    
     Inherent goodwill  412      1 575    
     Impairment allowances  (132 859)     (126 830)   
  Investments in associates at cost net of impairment allowances  585 376      4 592 713    
  Attributable share of post-acquisition reserves of associates  366 767      1 210 837    
     At beginning of year  1 210 837      815 534    
     Share of IFRS 16 adjustment to balance at beginning of the period  (21 064)     –    
     Share of current year earnings net of dividend  (216 160)     427 309    
     Share of current year movement in other comprehensive income  6 014      (13 828)   
     Reversal of prior year reserves on unbundling, disposal, and or change in shareholding  (612 860)     (18 178)   
  Impairment of post-acquisition reserves of associates  (352 974)     –    
  Net advances to associates  19      19    
     Advances to associates  111 151      52 519    
     Impairment allowances  (111 132)     (52 500)   
      599 188      5 803 569    
  Adcock Ingram Limited  –      5 251 765    
  Comair Limited  –      491 385    
  Adcock Ingram Limited (India) 356 772      –    
  National Renal Care Proprietary Limited  188 406      –    
  Other  54 010      60 419    
      599 188      5 803 569    
 

Except for the R111 million advance made to Strait Access Technologies Holdings Proprietary Limited, which attracts interest at the South African prime interest rate 7.25% (2019: 10.25%), all unsecured advances to associates are interest free and have no fixed terms of repayment.

A list of the Group's significant associates, 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 to these financial statements.

Effective 1 August 2019, the Group de-recognised its associate investment in Adcock Ingram and recognised and consolidated Adcock Ingram as a 51.40% held subsidiary, following the dissolution of the Adcock Ingram Broad-Based Black Empowerment Scheme. No additional consideration was paid for the ordinary shares received on the dissolution of the Scheme. A table illustrating the impact of the recognition as subsidiary at 1 August 2019 has been included in note 28 Subsidiaries.

The listed associates impairment allowance of R421 million and the impairment of post-acquisition reserves of R353 million relates solely to the Comair Limited (Comair) investment. The Group assessed the carrying value and remeasured the investment to its recoverable amount, nil. The impairment follows Comair's commencement, on 4 May 2020, with voluntary business rescue proceedings in terms of section 129 of the Companies Act and simultaneous successful application for the suspension of trading in the company's shares on the JSE with immediate effect. The current year's capital impairment amounted to R241 million and the Group's share of attributable losses is R201 million.

The same impairment considerations have been applied to other listed investments in associates.