SENWES ANNUAL FINANCIAL STATEMENTS 2022
7.2 Financial liabilities 7.2.1 Other loans payable
Interest-bearing loans from related parties
GROUP 2022 R ' m
2021 R ' m
COMPANY 2022 R ' m
Certisure Group 1 - 43 - 43 Bastion Lime ( Pty ) Ltd 2 62 39 - 39 Africum ( Pty ) Ltd 3 - - 26 - Senwes Equipment ( Pty ) Ltd 4 * - - - 1 Senwes Capital ( Pty ) Ltd 5 * - - - 92
Grainovation ( Pty ) Ltd 6 * |
- |
- |
- |
64 |
Agribel Holdings Ltd 8
|
3 |
18 |
- |
18 |
Oos-Transvaal Kalkverskaffers ( Pty ) Ltd 9 4 - - - Senwes Share Incentive Scheme Trust 10 * - - - 1 Staalmeester Agricultural Equipment ( Pty ) Ltd 11 * - - - 5
Pelelani ( Pty ) Ltd 12 * |
- |
1 |
- |
1 |
Total interest bearing loans from related parties |
69 |
101 |
26 |
264 |
Non-interest-bearing loans from related parties Africum Commodities ( Pty ) Ltd 7 * |
- |
- |
- |
2 |
Total |
69 |
101 |
26 |
266 |
* These loans were settled with a new loan to Africum ( Pty ) Ltd , with effect from 25 April 2022 . |
|
|
|
|
1 2 3 4 5 6 7 8 9 10 11 12
The loan from Certisure Group is unsecured , bears interest at a prime-linked rate and has no fixed repayment terms . The loan from Bastion Lime ( Pty ) Ltd is unsecured , bears interest at a prime-linked rate and has no fixed repayment terms . The loan from Africum ( Pty ) Ltd is unsecured , bears interest at a prime-linked rate and is repayable on demand . The loan from Senwes Equipment ( Pty ) Ltd is unsecured , bears interest at a prime-linked rate and has no fixed repayment terms . The loan from Senwes Capital ( Pty ) Ltd is unsecured , bears interest at a prime-linked rate and has no fixed repayment terms . The loan from Grainovation ( Pty ) Ltd is unsecured , bears interest at a prime-linked rate and has no fixed repayment terms . The loan from Africum Commodities ( Pty ) Ltd is unsecured , interest-free and has no fixed repayment terms . The loan from Agribel Holdings Ltd is unsecured , bears interest at a prime-linked rate and has no fixed repayment terms . The loan from Oos-Transvaal Kalk Verskaffers ( Pty ) Ltd is unsecured , bears interest at a prime-linked rate and has no fixed repayment terms . The loan from Senwes Share Incentive Scheme Trust is unsecured , bears interest at a prime-linked rate and has no fixed repayment terms . The loan from Staalmeester Agricultural Equipment ( Pty ) Ltd is unsecured , bears interest at a prime-linked rate and has no fixed repayment terms . The loan from Pelelani ( Pty ) Ltd is unsecured , bears interest at a prime-linked rate and has no fixed repayment terms .
2021 R ' m
7.2.2 Current interest-bearing loans
GROUP 2022 R ' m
2021 R ' m
COMPANY 2022 R ' m
Short-term loans |
3,886 |
3,859 |
3,555 |
3,662 |
Commodity finance |
93 |
52 |
93 |
52 |
Total |
3,979 |
3,911 |
3,648 |
3,714 |
Non-cash flow movements include a R650 million decrease due to the settlement made from a non-current interest-bearing loan during the year |
( group and company ). ( 2021 : Non-cash flow movements include a R650 million increase due to a reclassification from non-current interest-bearing |
loans during the year ( group and company ) and a R735 million increase from the Suidwes Holdings ( Pty ) Ltd and Hinterland Holdings ( Pty ) Ltd business |
combinations ( group ) ( refer to note 6.1 )). |
Short-term loans Absa Bank Ltd : As continuing security for Senwes ’ current facilities with Absa Bank Ltd (“ Absa ”), all rights and interest to producer debtors and their underlying security have been ceded and pledged to Absa . The Absa loan is renewable annually , and the current facilities bear interest at a sub-prime linked rate , capitalised on a monthly basis . Senwes has an Absa facility of R4 billion available , and at year end R3,5 billion had been utilised ( 2021 : R3,01 billion ).
Hinterland Holdings ( Pty ) Ltd has a R500 million seasonal prime lending facility available of which R325 million ( 2021 : R181 million ) has been utilised . The facility bears interest at a prime linked rate with no fixed terms of repayment and is secured by the following : i - A limited guarantee by Senwes Limited for an amount of R100 million supported by a cession of loan account .
ii - A limited guarantee by Hinterland SA ( Pty ) Ltd for an amount of R500 million supported by a cession of loan account and a general notarial bond for an amount of R250 million over movable assets . iii - A limited guarantee by Hinterland Fuels ( Pty ) Ltd for an amount of R12 million supported by a cession of loan account .
iv - A limited guarantee by Hinterland Securities ( Pty ) Ltd for an amount of R500 million supported by a first continuing coverage mortgage bond for an amount of R580 million over the properties owned by Hinterland Holdings ( Pty ) Ltd .
2021 R ' m
Reimagine Agriculture
39