v3.25.3
Investment Income
12 Months Ended
Jun. 30, 2025
Analysis of income and expense [abstract]  
Investment Income Investment income
Accounting policy
Interest income is recognised on the effective interest method, taking into account the principal outstanding and the effective rate
over the period to maturity, when it is determined that such income will accrue to the group. Dividend income is recognised when
the shareholder's right to receive payment is established. This is recognised at the last date of registration.
Cash flows from interest and dividends received are classified under operating activities in the cash flow statement.
SA Rand
Figures in million
2025
2024
2023
Interest income from financial assets at amortised cost (a)
1 228
690
425
Dividend income
16
15
19
Net gain on financial instruments (b)
260
104
219
Total investment income
1 504
809
663
(a)Interest income increased during 2025 mainly due to higher favourable cash balances.
(b)The net gain primarily relates to the environmental trust funds (refer to note 15). In 2025, fair value gains on the equity-
linked deposits that form part of restricted investments increased by R159 million mainly due to the improved performance
of the JSE Top 40 index to which they are linked.