Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About
Market Risk
In addition to the tables below, see
Note 5 to the unaudited condensed consolidated financial statements for
a discussion of
market risk.
We
have
short and
long-term borrowings
in South
Africa which
attract interest
at rates
that fluctuate
based on
changes in
the
South African prime
and 3-month JIBAR
interest rates. The
following table illustrates
the effect on
our annual expected
interest charge,
translated at exchange
rates applicable as
of March 31,
2025, as a
result of changes
in the South
African prime and
3-month JIBAR
interest rates, using
our outstanding short
and long-term borrowings
as of March
31, 2025. The
effect of a
hypothetical 1% (i.e.
100
basis points)
increase
and
a
1% decrease
in
the
interest
rates
applicable
to
the
borrowings
as of
March
31,
2025,
are shown.
The
selected 1% hypothetical change does not reflect what could be considered the
best- or worst-case scenarios.
Table 20
As of March 31, 2025
Annual expected
interest charge
($ ’000)
Hypothetical
change in
interest rates
Estimated annual
expected interest
charge after
hypothetical change
in interest rates
($ ’000)
Interest on South African borrowings
23,853
1%
26,048
(1%)
21,658
The following
table summarizes
our exchange-traded
equity security
with equity
and liquidity
price risk
as of
March 31, 2025.
The effects
of a
hypothetical 10%
increase and
a 10%
decrease in
market prices
as of
March 31,
2025, is
also shown.
The selected
10% hypothetical change does not reflect what could be
considered the best or worst case scenarios. Indeed, results
could be far worse
due both to the nature of equity markets and the liquidity risk associated with the
equity security.
Table 21
As of March 31, 2025
Fair value
($ ’000)
Hypothetical
price change
Estimated fair value
after hypothetical
change in price
($ ’000)
Percentage Increase
(Decrease) in
Shareholders’ Equity
Exchange-traded equity securities
22,113
10%
24,324
1%
10%
19,902
(1%)
76
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