GROUP CASHFLOW STATEMENT

FOR THE YEAR ENDED 31 DECEMBER


        2008     2007
  Notes     Rm     Rm
Cash generated by operations 48.1     14 557     12 453
Cash received from clients 48.2     68 473     52 288
Cash paid to clients, employees and suppliers 48.3     (54 485)     (40 388)
Dividends received on investments       234     131
Recoveries on loans previously written off       379     417
Effects of exchange rate changes on opening cash and cash equivalents              
(excluding foreign borrowings)       (44)     5
Change in funds for operating activities       (10 674)     (10 691)
Increase in operating assets 48.4     (81 992)     (66 697)
Increase in operating liabilities 48.5     71 318     56 006
               
Net cash from operating activities before taxation       3 883     1 762
Taxation paid 48.6     (2 233)     (2 419)
Cashflows from/(utilised by) operating activities       1 650     (657)
Cashflows utilised by investing activities       (999)     (2 063)
Acquisition of property and equipment, computer software and              
development costs and investment property       (1 547)     (1 039)
Disposal of property and equipment, computer software and              
development costs and investment property       18     46
Net disposal of investment banking assets       8     28
Acquisition of associate companies       (321)     (529)
Disposal of associate companies       282     458
Acquisition of other investments       (810)     (1 808)
Disposal of other investments       1 331     662
Disposal of investments in subsidiary companies net of cash 48.7     40     366
Acquisition of investments in subsidiary companies net of cash 48.8           (247)
Cashflows (utilised by)/from financing activities       (685)     2 122
Net proceeds from issue of ordinary shares       657     1 001
Issue of long-term debt instruments               2 263     8 062
Redemption of long-term debt instruments       (528)     (4 254)
Dividends paid to ordinary shareholders 48.9     (2 736)     (2 402)
Preference share dividends paid       (341)     (285)
               
Net decrease in cash and cash equivalents       (34)     (598)
Cash and cash equivalents at the beginning of the year*       18 708     19 306
Cash and cash equivalents at the end of the year* 21     18 674     18 708