SBN HOLDINGS LIMITED Annual Report 2022
106
33.
33.4
33.5
NOTES TO THE ANNUAL FINANCIAL STATEMENTS continued
Statement of cash flows notes continued
Cash payments to suppliers and employees
Cash flows to suppliers
Cash flows to employees
Total
Refer to the accounting policy elections
and restatements section for details of
restatements.
Direct taxation paid
GROUP
2022
N$'000
2021
N$'000
2022
N$'000
COMPANY
2021
N$'000
(511 414)
(506 376)
(1 670)
(5 032)
(782 437)
(843 468)
(1 293 851)
(1349 844)
(1 670)
(5032)
GROUP
COMPANY
2022
N$'000
2021
N$'000
2022
N$'000
Normal tax at beginning of the year
Recognised in income statement
Normal tax at end of the year
165 126
123 772
2021
N$'000
(4109)
(288 020)
(125 244)
(49 351)
(165126)
Total
(172 245)
(166 599)
(4109)
33.6
Proceeds from the sale of property and equipment
Net book value of disposals
Profit on disposal
Total
33.7
Dividends paid
33.8
GROUP
COMPANY
2022
N$'000
2021
N$'000
2022
N$'000
2021
N$'000
1 619
3 426
958
703
5 045
1 661
2022
N$'000
GROUP
2021
N$'000
COMPANY
2022
N$'000
2021
N$'000
Dividend declared during the year
Movement in accrual for dividend
(182 901)
(156 742)
100
(182 901)
(156 742)
100
Total
(182 901)
(156 642)
(182 901)
(156 642)
Cash and cash equivalents
GROUP
COMPANY
2022
N$'000
2021
N$'000
2022
N$'000
2021
N$'000
Cash and balances with the central bank (note 1)
1 673 337
1 488 497
291 326
312 401
On demand gross loans and advances to banks (note 5.1)
Other assets on demand (note 6)
3 110 196
3 250 771
36 154
Total
4 783 533
4 739 268
327 480
312 401
Refer to the accounting policy elections
and restatements section for details of
restatements.
34.
Post-employment benefits
34.1
SBN HOLDINGS LIMITED
Annual report 2022
GROUP
COMPANY
2022
N$'000
2021
N$'000
2022
N$'000
2021
N$'000
Amounts recognised as a liability in the
statement of financial position
Post-employment healthcare benefit medical aid
113 043
108 905
Amounts recognised as expenses in profit and
loss for the year
Retirement fund
63 378
Post-employment healthcare benefit medical aid
17 721
66 246
17 659
Total
81 099
83 905
Retirement fund
All eligible full-time employees are members of the
Standard Bank Namibia Pension Fund, which has been
registered in Namibia in accordance with the requirements
of the Pension Funds Act. The fund is a defined contribution
fund and is governed by the Pension Funds Act of 1956,
and is actuarially valued every three years. An actuarial
valuation was conducted as at 30 November 2022 and the
actuary certified the fund as being financially sound as at
that date. Members of the fund comprise 99% of the full-
time staff. The contribution to the pension fund is based
on a percentage of pensionable earnings and charged to
income as incurred.
Employer's contribution for the year
GROUP
COMPANY
2021
N$'000
2022
N$'000
2022
N$'000
63 378
66 246
2021
N$'000
107View entire presentation