Summary of accounting policies (Tables)

12 Months Ended

Dec. 31, 2023

Depreciation on items of property and equipment is calculated using the straight-line method over their estimated useful lives, as follows:


			Useful life in years
Buildings			Up to 40
Transportation equipment			5 to 8
Technical equipment and machinery			3 to 10
Office equipment			5 to 15
Leasehold improvements			Shorter of useful life and the term of the underlying lease

Movements in the carrying amount of property and equipment were as follows:


In thousands of USD	Buildings	Technical equipment and machinery	Transportation equipment, office equipment and other equipment	Right of use assets - Office and Warehouse	Total
Cost
Balance as of January 1, 2022	2,389	3,733	17,616	24,676	48,414
Additions	878	3,051	7,218	10,391	21,538
Lease modifications	—	—	—	(2,901)	(2,901)
Disposals	(31)	—	(67)	—	(98)

Effect of translation	(409)	(582)	(2,559)	(3,780)	(7,330)
Balance as of December 31, 2022	2,827	6,202	22,208	28,386	59,623
Additions	141	196	1,577	1,030	2,944
Lease modifications	—	—	—	(5,348)	(5,348)
Disposals	(127)	(80)	(376)	—	(583)
Effect of hyperinflationary economies	13	92	482	—	587
Effect of translation	(371)	(1,147)	(5,367)	(3,475)	(10,360)
Balance as of December 31, 2023	2,483	5,263	18,524	20,593	46,863
Accumulated depreciation
Balance as of January 1, 2022	(1,770)	(2,135)	(10,460)	(12,225)	(26,590)
Depreciation charge	(408)	(899)	(3,667)	(6,480)	(11,454)
Accumulated depreciation on disposals	3	—	50	—	53
Lease modifications	—	—	—	3,444	3,444


Effect of translation	267	263	1,412	1,480	3,422
Balance as of December 31, 2022	(1,908)	(2,771)	(12,665)	(13,781)	(31,125)
Depreciation charge	(270)	(925)	(3,342)	(5,204)	(9,741)
Accumulated depreciation on disposals	59	44	197	—	300
Lease modifications	—	—	—	3,389	3,389
Effect of hyperinflationary economies	(12)	(6)	(353)	—	(371)

Effect of translation	282	462	3,045	1,257	5,046
Balance as of December 31, 2023	(1,849)	(3,196)	(13,118)	(14,339)	(32,502)
Carrying amount as of December 31, 2022	919	3,431	9,543	14,605	28,498
Carrying amount as of December 31, 2023	634	2,067	5,406	6,254	14,361

The following tables present currency translation rates against the US dollar for the Group’s most significant operations.

The Group’s geographical distribution of revenue and property and equipment was as follows:

___________________________

(1)West Africa covers Nigeria, Ivory Coast, Senegal and Ghana.

(2)North Africa covers Egypt, Tunisia, Morocco and Algeria.

(3)East and South Africa covers Kenya, Uganda and South Africa.

(4)Portugal and Germany

(5)Re-presented for discontinued operations. See Note 6.