7.2 FINANCIAL LIABILITIES
7.2.1 Other loans payable
GROUP
2020
R’m
2019
R’m
Interest-bearing loans from related parties
Certisure Group 1 41 27
Bastion Lime (Pty) Ltd 2 23 10
Hinterland Holdings (Pty) Ltd 3 - 9
Total 64 46
1
The loan from Certisure Group is unsecured, has no fixed repayment terms and bears interest at a prime-linked rate.
2
The loan from Bastion Lime (Pty) Ltd is unsecured, has no fixed repayment terms and bears interest at a prime-linked
rate.
3
The loan from Hinterland Holdings (Pty) Ltd is unsecured, has no fixed repayment terms and bears interest at a primelinked
rate.
7.2.2 Current interest-bearing loans
GROUP
2020
R’m
2019
R’m
Short-term loans 3 426 1 716
Commodity finance 41 121
Total 3 467 1 837
Non-cash flow movements include a R350 million increase due to a reclassification from non-current interest-bearing
loans during the year and a R3 million increase from the KLK Landbou Ltd business combination, refer to 6.2.
(2019: Movements in financial liabilities only consist of cash flow items.)
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 R 3,5 billion
available, and at year end R3,1 billion has been utilised (2019: R1,7 billion).
COMMODITY FINANCE
The carrying value of the finance approximates the fair value of the underlying commodities. Commodities which are
pledged as security are reflected in note 12. Commodity finance bears interest at a sub-prime-linked rate and is capitalised
monthly.
Short-term portion of KLK Landbou Ltd’s interest-bearing borrowings:
Refer to 7.2.3 for a description of the terms and conditions relating to the respective borrowings. The short-term portion
amounts to R6 million.
Senwesbel Limited Reg no: 1996/017629/06 SENWESBEL ANNUAL FINANCIAL STATEMENTS 2020 32