| Non-controlling interest |
27.Non-controlling interest | | | | | | | | | 2023 | | 2022 | | 2021 | | | $’000 | | $’000 | | $’000 | | | | | | | | Balance at January 1 | | 227,200 | | 223,188 | | 14,216 | Non-controlling interest arising on business combinations (refer to note 31)* | | 1,922 | | 831 | | 215,014 | Loss for the period | | (11,569) | | (9,959) | | (289) | Other comprehensive gain/(loss) | | 19,953 | | 13,140 | | (5,753) | Balance at December 31 | | 237,506 | | 227,200 | | 223,188 |
*Includes non-controlling interest arising on subsequent asset acquisitions on business combination transactions. In November 2021, the Group completed a deal with TIM S.A. to acquire a controlling interest in I-Systems Soluções de Infraestrutura S.A. (“I-Systems”) incorporated and with its principal place of business in Brazil. The Group owns a 51% (same proportion voting rights) stake in I-Systems and TIM the remaining 49%. Set out below is summarized financial information for the I-Systems subsidiary, being the only subsidiary that has non-controlling interest that is material to the group. The amounts disclosed are before inter-company eliminations. | | | | Summarized balance sheet and cash flows | I-Systems Soluções de Infraestrutura S.A. | | 2023 ($’000) | | 2022 ($’000) | | | | | Current assets | 83,274 | | 102,445 | Current liabilities | (53,797) | | (38,834) | Current net assets | 29,477 | | 63,611 | | | | | Non-current assets | 527,592 | | 462,122 | Non-current liabilities | (114,681) | | (92,453) | Non-current net assets | 412,911 | | 369,669 | | | | | Net assets | 442,388 | | 433,280 | | | | | Accumulated non-controlling interest at the end of the period | 216,770 | | 212,307 | | | | | Summarized statement of comprehensive income for the reporting period | I-Systems Soluções de Infraestrutura S.A. | | 2023 ($’000) | | 2022 ($’000) | | | | | Revenue | 73,556 | | 56,602 | Loss for the period | (22,712) | | (15,377) | Other comprehensive income | 31,819 | | 29,449 | Total comprehensive income | 9,107 | | 14,072 | | | | | Loss allocated to non-controlling interest during the period | (11,129) | | (7,535) | | | | | | I-Systems Soluções de Infraestrutura S.A. | | 2023 ($’000) | | 2022 ($’000) | | | | | Cash flows generated from operating activities | 59,827 | | 55,714 | Cash flows used in investing activities | (100,771) | | (91,680) | Cash flows generated from financing activities | 24,483 | | 36,574 | Net (decrease)/increase in cash and cash equivalents | (16,461) | | 608 |
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