2020 INTEGRATED REPORT

CONSOLIDATED STATEMENT OF CASH FLOWS for the year ended 31 December 2020 Group 2020 2019 Note R’m R’m Cash flows from operating activities Cash (utilised by)/generated from operations 30 (354) 45 Interest received 1 537 1 503 Dividend received 834 753 Finance costs 28 (19) (24) Tax paid 31 (169) (400) Net cash from operating activities 1 829 1 877 Cash flows from investing activities Purchases of property and equipment 2 (25) (144) Improvements to investment property 3 (4) (72) Software development 4 (105) (60) Purchase of financial assets 5,15 (29 791) (23 398) Proceeds from disposal of financial assets 28 053 22 233 Net cash used in investing activities (1 872) (1 441) Cash flows from financing activities Decrease in finance lease liabilities (22) (18) Decrease in borrowings 16 (14) (7) Net cash from financing activities (36) (25) Net (decrease)/increase in cash and bank (79) 411 Cash and cash equivalents at beginning of year 2 966 2 555 Cash and cash equivalents at end of year 8 2 887 2 966 PPS INTEGRATED REPORT 2020 | 127