Trade and other payables

12 Months Ended

Dec. 31, 2023

33. Trade and other payables

Accounting policy

Trade and other payables, excluding payroll creditors, leave pay accruals and VAT payable are non-derivative financial liabilities

categorised as other financial liabilities. Trade and other payables are recognised initially at fair value and subsequently measured at

amortised cost using the effective interest method.

Provision is made for employee entitlement benefits accumulated as a result of employees rendering services up to the reporting date.

Liabilities arising in respect of wages and salaries, annual leave and other benefits due to be settled within 12 months of the reporting date

are measured at rates which are expected to be paid when the liability is settled. Termination benefits are expensed and an accrual

raised at the earlier of when the Group can no longer withdraw the offer of those benefits and when the Group recognises costs for a

restructuring. If benefits are not expected to be settled wholly within 12 months of the reporting date, they are discounted.

All other employee entitlement liabilities are measured at the present value of estimated payments to be made in respect of services

rendered up to reporting date.


Figures in million - SA rand	2023	2022	2021
Trade creditors	4,278	4,147	3,670
Accruals and other creditors	6,609	5,470	5,192
Other	791	1,276	1,581
Financial liabilities	11,678	10,893	10,443
Payroll creditors	3,014	2,496	2,485
Leave pay accrual	1,686	2,123	2,045
VAT payable	86	141	189
Total trade and other payables	16,464	15,653	15,162

Fair value of trade and other payables

The carrying value of trade and other payables approximate the fair value due to the short maturity of the amounts payable.

Liquidity risk

Trade and other creditors are expected to be settled within 12 months from the reporting date (see note 36.2).