Notes to the Consolidated And Separate Annual Financial Statements | Note 40

On 19 December 2022, the Company established an enterprise and supplier development programme aimed at supporting small and medium enterprises (SME) through responsible investment and ensuring Broad-Based Black Economic Empowerment code compliance. The Company has provided the fund with an interest-free loan which will be used to support the SMEs. The loan is accounted for at amortised cost. The Company expects repayment of the capital amount on winding up of the fund at the end of a three year period from the reporting date. At the reporting date, there was no indication of a deterioration of the credit risk of the loan since initial recognition. The loan is considered to have a low credit risk of default and the beneficiaries of the fund have a strong capacity to meet the contractual cash flow obligations in the near term. The expected credit loss over the next 12 months is immaterial.