NOTES TO THE FINANCIAL STATEMENTS - NOTE 8


 

    Group   Company  
    2014
Rm
  2013
Rm
  2014
Rm
  2013
Rm
 
8. Investment in equity-accounted investees                
  Investment in associates                
  The carrying value of investment in associates is nil (2013:nil). The group has an investment in Uitenhage Electricity Supply Company (Pty) Limited which ceased trading in 2008 and is in the process of being wound up and Western Power Corridor Company (Pty) Limited is dormant.                
  Investment in joint ventures                
  Balance at beginning of the year 296   261   95   95  
  Share of profit after tax 43   35      
  Dividends received (21)        
  Balance at end of the year 318   296   95   95  
  The group’s investments in the joint ventures are not considered to be individually material. The group’s share of the results of its significant joint ventures, all of which are unlisted, is:

Name Main business Country of incorporation   Interest
held
%
  Profit for the
year after tax
Rm
 
Group              
2014              
Directly held              
Mozambique Transmission Company SARL1 (Motraco) Electricity transmission Mozambique   33   27  
               
Indirectly held              
Trans Africa Projects (Pty) Limited1 Engineering services South Africa   50   16  
            43  
2013              
Directly held              
Mozambique Transmission Company SARL1 (Motraco) Electricity transmission Mozambique   33   26  
Indirectly held              
Trans Africa Projects (Pty) Limited1 Engineering services South Africa   50   9  
            35  

SDR/United Engineers Joint Venture is dormant.

The share capital of the group’s investment in joint ventures comprise ordinary shares. The joint ventures are structured as separate vehicles and the group has a residual interest in the net assets. The relevant activities are jointly controlled in accordance with the agreements under which the entities are established. The joint arrangements have therefore been classified as joint ventures.

1. Year end is 31 December.