NOTES TO THE
FINANCIAL STATEMENTS
1. SEGMENTAL INFORMATION
1.1. For management and control purposes, the group is divided into business units based on their products, services and clients
and consists of the following reportable segments:
INVESTMENT ACTIVITIES
(Senwesbel)
FINANCIAL SERVICES
(Senwes Credit, Senwes Asset Finance,
Certisure Group and Molemi
Sele Management)
INPUT SUPPLY
(Senwes Equipment, JD Implemente,
Staalmeester, Senwes Equip Holdings,
Hinterland Group, Bastion Lime Group,
Falcon and KLK Landbou Group)
MARKET ACCESS
(Senwes Grainlink, Tradevantage,
Graanmakelaars, Grainovation and ESC)
It is Senwesbel’s strategy to consider interests in other agricultural and agricultural
related businesses. At present Senwesbel owns only an interest in
Senwes Limited.
Credit extension to agricultural producers and grain buyers. Senwes Credit
also renders agricultural services to its growing client base. Certisure includes
commission received on short-term, crop and life insurance premiums and
administration fees. Molemi Sele holds investments in agricultural companies,
an index tracker fund and a cell captive.
Sales at retail outlets (including fuel stations), direct sales of farming input
requirements, car dealership sales, the importation, manufacturing and
sale of mechanisation goods and spare parts, as well as the servicing of such
farming and other mechanisation equipment. Wholesale of agricultural,
fuel and industrial retail products to agricultural retail outlets. Production
and processing of raisin products, cattle hides, dorper skins, beef- and lamb
carcasses (abattoirs).
Income received from the handling and storage of agricultural produce,
the transportation of grain commodities as well as the processing of seed.
Commission earned on marketing of grain and revenue from the sale of grain.
Electronic issuing and trading of silo certificates.
CORPORATE
(Senwes Share Incentive Scheme Trust,
Thobo Trust, Senwes Capital, Senwes Agrowth
and RealFin Collective Investment Scheme)
Head office services, information technology, human resources, planning and
property development, central administration, fleet management, secretarial
services, legal services, corporate marketing, risk management, internal audit,
strategic development, group finance, corporate finance, business engineering
and treasury and governance.
Income tax is managed on a group basis and is not allocated to operating segments. Services rendered between related parties
as reflected in operating segments are on an arm’s length basis in a manner similar to transactions with third parties. The group
Executive Committee monitors the operational results of its business units separately for the purpose of making decisions about
resource allocation and performance assessment. Segmental performance is evaluated, based on operating profit or loss, and is
measured consistently against operating profit or loss in the consolidated financial statements.
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SENWESBEL ANNUAL FINANCIAL STATEMENTS 2020 Senwesbel Limited Reg no: 1996/017629/06