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Borrowings | 6 Months Ended
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Dec. 31, 2020
Borrowings [Abstract] |
Borrowings | 9.Borrowings Refer to Note 13 to the Company’s audited consolidated financial statements included in its Annual Report on Form 10-K for the year ended June 30, 2020, for additional information regarding its borrowings. South Africa Nedbank facility, comprising short-term facilities On November 2, 2020, the Company amended its short-term South African credit facility with Nedbank Limited to increase the indirect and derivative facilities component of the facility from ZAR 150.0 million to ZAR 159.0 million. As of December 31, 2020, the aggregate amount of the Company’s short-term South African credit facility with Nedbank Limited was ZAR 459.0 million ($31.3 million). The credit facility comprises an overdraft facility of (i) up to ZAR 300.0 million ($20.5 million), which is further split into (a) a ZAR 250.0 million ($17.1 million) overdraft facility which may only be used to fund mobile ATMs and (b) a ZAR 50.0 million ($3.4 million) general banking facility and (ii) indirect and derivative facilities of up to ZAR 159.0 million ($10.8 million), which include guarantees, letters of credit and forward exchange contracts. Movement in short-term credit facilities Summarized below are the Company’s short-term facilities as of December 31, 2020, and the movement in the Company’s short-term facilities from as of June 30, 2020 to as of December 31, 2020, as well as the respective interest rates applied to the borrowings as of December 31, 2020:
|  |  |  |  |  |  | South Africa |  |  | Total |
|  |  |  |  |  | RMB |  | Nedbank |  |  |  |
| Short-term facilities available as of December 31, 2020 | $ | 81,852 |  | $ | 31,310 |  | $ | 113,162 |
|  | Overdraft |  | - |  |  | 3,410 |  |  | 3,410 |
|  | Overdraft restricted as to use for ATM funding only |  | 81,852 |  |  | 17,052 |  |  | 98,904 |
|  | Indirect and derivative facilities |  | - |  |  | 10,848 |  |  | 10,848 |
| Interest rate (%), based on South African prime rate |  | 7.00 |  |  |  |  |  |  |
| Interest rate (%), based on South African prime rate less 1.15% |  |  |  |  | 5.85 |  |  |  |
| Movement in utilized overdraft facilities: |  |  |  |  |  |  |  |  |
|  | Balance as of June 30, 2020 |  | 14,756 |  |  | 58 |  |  | 14,814 |
|  |  | Utilized |  | 189,928 |  |  | 16,551 |  |  | 206,479 |
|  |  | Repaid |  | (155,670) |  |  | (9,438) |  |  | (165,108) |
|  |  | Foreign currency adjustment(1) |  | 4,720 |  |  | (102) |  |  | 4,618 |
|  |  |  | Balance as of December 31, 2020 |  | 53,734 |  |  | 7,069 |  |  | 60,803 |
|  |  |  |  | Restricted as to use for ATM funding only |  | 53,734 |  |  | 7,069 |  |  | 60,803 |
| Movement in utilized indirect and derivative |  |  |  |  |  |  |  |  |
| facilities: |  |  |  |  |  |  |  |  |
|  | Balance as of June 30, 2020(2) |  | - |  |  | 5,398 |  |  | 5,398 |
|  |  | Utilized |  | - |  |  | 3,826 |  |  | 3,826 |
|  |  | Foreign currency adjustment(1) |  | - |  |  | 1,455 |  |  | 1,455 |
|  |  |  | Balance as of December 31, 2020(2) | $ | - |  | $ | 10,679 |  | $ | 10,679 |
(1) Represents the effects of the fluctuations between the ZAR and the U.S. dollar.(2) As of December 31, 2020 and June 30, 2020, the Company had utilized approximately ZAR 156.6 million ($10.7 million) and ZAR 93.6 million ($5.4 million), respectively, of its indirect and derivative facilities of ZAR 159.0 million (June 30, 2020: ZAR 150 million) to enable the bank to issue guarantees, letters of credit and forward exchange contracts, in order for the Company to honor its obligations to third parties requiring such guarantees (refer to Note 20).

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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