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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities        
Cash from operations $ 264,132 $ 216,800 $ 516,154 $ 383,407
Income taxes paid (19,514) (23,903) (33,957) (40,002)
Payment for rent (658) (1,587) (2,943) (4,130)
(Payment)/refund for tower and tower equipment decommissioning (317) 4 (321) 142
Net cash generated from operating activities 243,643 191,314 478,933 339,417
Cash flow from investing activities        
Purchase of property, plant and equipment (163,185) (96,980) (268,602) (162,856)
Payment in advance for property, plant and equipment (34,346) (37,074) (70,148) (87,913)
Purchase of software and licenses (8,924) (12,716) (16,176) (13,004)
Consideration paid on business combinations, net of cash acquired   (409,545)   (726,924)
Proceeds from disposal of property, plant and equipment 399 761 960 854
Insurance claims received 134 464 278 1,614
Interest income received 5,079 3,888 11,577 7,016
Deposit of short term deposits (65,055) (166,465) (128,765) (288,065)
Refund of short term deposits 3,994 100,121 20,723 151,582
Net cash used in investing activities (261,904) (617,546) (450,153) (1,117,696)
Cash flows from financing activities        
Bank loans received 290,083 661,114 658,179 715,793
Bank loans repaid (153,505) (33,360) (417,850) (70,027)
Fees on loans and derivative instruments (2,163) (6,417) (8,671) (9,277)
Interest paid (76,442) (50,571) (144,945) (104,669)
Payment for the principal of lease liabilities (24,523) (14,402) (44,745) (29,751)
Interest paid for lease liabilities (13,174) (9,525) (25,294) (16,220)
Initial margin received on non-deliverable forwards 52 633 52 6,477
Profits received/(losses) settled on nondeliverable forwards 420 (284) 420 (3,025)
Net cash generated from financing activities 20,748 547,188 17,146 489,301
Net increase/(decrease) in cash and cash equivalents 2,487 120,956 45,926 (288,978)
Cash and cash equivalents at beginning of year 515,589 508,609 514,078 [1] 916,488
Effect of movements in exchange rates on cash (85,028) (62,267) (126,956) (60,212)
Cash and cash equivalents at end of year $ 433,048 $ 567,298 $ 433,048 $ 567,298
[1] re-presented to reflect the remeasurement period adjustments, as required by IFRS 3, in respect of updates to the accounting for the MTN SA Acquisition in May 2022.