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| Note | Six months ended 30 June 2026 Reviewed Rm |
Six months ended 30 June Restated1 2025 Reviewed Rm |
Financial year ended 31 December 2025 Audited Rm |
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| Net cash generated from operating activities | 39 077 | 33 879 | 77 944 | |||
| Cash generated from operations | 52 881 | 47 638 | 105 938 | |||
| Interest received | 1 534 | 1 164 | 2 308 | |||
| Interest paid | (7 457) | (9 158) | (18 302) | |||
| Dividends received from associates and joint ventures | 148 | 15 | 120 | |||
| Income tax paid | (8 029) | (5 780) | (12 120) | |||
| Net cash used in investing activities | (27 946) | (20 640) | (40 930) | |||
| Acquisition of property, plant and equipment | (19 734) | (18 866) | (30 907) | |||
| Acquisition of intangible assets | (2 767) | (2 878) | (9 425) | |||
| Proceeds from sale of property, plant and equipment and intangible assets | 10 | 62 | 154 | |||
| Increase in loans receivable | (520) | – | (367) | |||
| Increase in prepayments | (40) | (10) | (32) | |||
| Acquisition of right-of-use asset2 | (363) | (1 138) | (1 963) | |||
| Purchase of non-current investment bonds | – | – | (97) | |||
| Purchase of non-current investment bonds and equity instruments | (219) | – | (73) | |||
| (Purchase)/realisation of current investment treasury bills and foreign deposits | (2 664) | 2 925 | 1 017 | |||
| Increase in restricted cash | (1 708) | (5 757) | (8 258) | |||
| Decrease in restricted cash | 94 | 5 200 | 9 376 | |||
| Other investing activities | (35) | (178) | (355) | |||
| Net cash used in financing activities | (22 998) | (14 638) | (23 720) | |||
| Proceeds from borrowings | 14 | 6 628 | 6 665 | 12 551 | ||
| Repayment of borrowings | 14 | (9 538) | (11 927) | (19 231) | ||
| Repayment of lease liabilities | (4 919) | (4 283) | (8 650) | |||
| Dividends paid to equity holders of the Company | (9 168) | (6 235) | (6 235) | |||
| Dividends paid to non-controlling interests | (4 110) | (1 399) | (5 309) | |||
| Purchase of treasury shares | (1 439) | (513) | (513) | |||
| Proceeds from sale of treasury shares: MTN Zakhele Futhi unwind | – | 3 042 | 3 433 | |||
| Consideration received on MTN Ghana share localisation | – | 201 | 201 | |||
| Decrease in other non-current liabilities | (62) | – | (669) | |||
| Other financing activities | (390) | (189) | 702 | |||
| Net (decrease)/increase in cash and cash equivalents | (11 867) | (1 399) | 13 294 | |||
| Net cash and cash equivalents at the beginning of the year | 41 262 | 29 061 | 29 061 | |||
| Exchange (losses)/gains on cash and cash equivalents | (1 116) | 1 543 | (184) | |||
| Net monetary gain/(loss) on cash and cash equivalents | 718 | (1 303) | (909) | |||
| Net cash and cash equivalents at the end of the year3 | 28 997 | 27 902 | 41 262 |
| 1 | Restated, refer to note 19 for details on the restatement. |
| 2 | Relates to fully prepaid leases. |
| 3 | Disclosed net of bank overdrafts of R2 154 million and before provision for impairment of cash of R6 million. |