Net finance costs

12 Months Ended

Jun. 30, 2024

6	Net finance costs


		2024		2023	2022
for the year ended 30 June	Note	Rm		Rm	Rm
Finance income
Notional interest			—	—	29
Interest received on			3 226	2 253	991
other long-term investments			63	58	49
loans and receivables			143	89	141
cash and cash equivalents			3 020	2 106	801
Per income statement			3 226	2 253	1 020
Less: notional interest			—	—	(29)
Less: interest received on tax			(15)	(11)	(5)
Per the statement of cash flows			3 211	2 242	986
Finance costs
Debt			8 952	7 408	5 419
debt			8 952	7 408	5 066
interest rate swap – net settlements			—	—	353
Interest on lease liabilities			1 557	1 451	1 357
Other			203	146	95
			10 712	9 005	6 871
Amortisation of loan costs	13		161	212	132
Notional interest			1 198	1 116	633
Total finance costs			12 071	10 333	7 636
Amounts capitalised to assets under construction, a class of property, plant and equipment	16		(1 644)	(1 074)	(740)
Per income statement			10 427	9 259	6 896
Total finance costs before amortisation of loan costs and notional interest			10 712	9 005	6 871
Add: modification gain			—	—	74
Add: amortisation of modification gain			—	194	—
Less: unwinding of loan costs¹			—	(144)	—
Less: interest accrued on long-term debt, lease liabilities and short-term debt			(2 071)	(1 966)	(1 463)
Less: interest raised on tax payable			(3)	(6)	(4)
Per the statement of cash flows			8 638	7 083	5 478

RCF loan costs expensed in 2023 upon refinancing of banking facilities.