v3.24.0.1
CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities      
Cash from operations $ 902,923 $ 966,874 $ 788,073
Income taxes paid (45,411) (51,245) (29,147)
Payment for rent (3,716) (7,983) (8,506)
Payment for tower and tower equipment decommissioning (343) (343) (231)
Net cash generated from operating activities 853,453 907,303 750,189
Cash flow from investing activities      
Purchase of property, plant and equipment (464,897) (378,521) (238,145)
Payment in advance for property, plant and equipment (111,065) (165,154) (159,276)
Purchase of software and licenses (22,811) (15,695) (5,054)
Consideration paid on business combinations, net of cash acquired (4,486) (735,740) (401,039)
Proceeds from disposal of property, plant and equipment 2,919 1,826 4,742
Insurance claims received 321 2,100 16,672
Interest income received 25,008 15,170 7,798
Deposit of short term deposits (183,400) (512,105) (103,647)
Refund of short term deposits 36,162 270,831  
Net cash used in investing activities (722,249) (1,517,288) (877,949)
Cash flows from financing activities      
Capital raised     378,000
Cost of capital raised     (28,154)
Transactions with non-controlling interest   11  
Shares repurchased and canceled through buyback program (10,037)    
Bank loans and bond proceeds received (net of transaction costs) 986,604 1,263,272 1,076,063
Bank loans and bonds repaid (689,940) (506,504) (653,504)
Fees on loans and derivative instruments (19,441) (19,911) (20,426)
Interest paid (299,029) (234,567) (168,285)
Costs paid on early loan settlement     (18,171)
Payment for the principal of lease liabilities (72,854) (76,629) (63,324)
Interest paid for lease liabilities (58,443) (36,178) (32,923)
Margin received on non-deliverable forwards   12,854 36,714
Initial margin deposited on non-deliverable forwards     (19,436)
Premium paid on derivative instruments   (910)  
Profits received/(losses settled) on derivative instruments 839 (3,197) 37,711
Net cash (used in)/generated from financing activities (162,301) 398,241 524,265
Net (decrease)/increase in cash and cash equivalents (31,097) (211,744) 396,505
Cash and cash equivalents at beginning of year 514,078 [1] 916,488 585,416
Effect of movements in exchange rates on cash (189,158) (190,666) (65,433)
Cash and cash equivalents at end of year $ 293,823 $ 514,078 [1] $ 916,488
[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.