Cash and cash equivalents

12 Months Ended

Dec. 31, 2025

24. Cash and cash equivalents

Accounting policy

Cash comprises cash on hand and demand deposits. Cash equivalents are short-term, highly liquid investments readily convertible to

known amounts of cash and which are subject to an insignificant risk of changes in value. Cash equivalents are held to meet short-term

cash commitments. Cash and cash equivalents are measured at amortised cost, which is deemed to be fair value due to its short maturity.


Figures in million – SA rand	2025	2024	2023
Cash at the bank, on hand and cash equivalents	17,178	16,049	25,560
Total cash and cash equivalents	17,178	16,049	25,560

Fair value of cash and cash equivalents

The carrying value of cash and cash equivalents approximates fair value due to the short-term nature of the balances.

Credit risk

The Group is exposed to credit risk on the total carrying value of cash and cash equivalents. The Group has reduced its exposure to credit

risk by dealing and investing with a number of major financial institutions (see note 35.2).