NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS – NOTE 17

    2016 
R’000 		   2015 
R’000 		  
17. CASH AND CASH EQUIVALENTS/OVERDRAFT        
  Cash at banks 200 555    147 379   
  Bank overdraft (11 755)   (304 210)  
    188 800    (156 831)  
 

Cash at banks earns interest at floating rates based on daily bank deposit rates. Overdraft balances in South Africa incur interest at 8.0%.

The fair value of the net bank overdraft approximates R188.8 million (2015: R156.8 million).

There are no restrictions over the cash balances and all balances are available for use.

Property, plant and equipment to the value of R40.5 million in Datlabs have been pledged as security for the bank overdraft of R11.8 million. Refer to note 10. In the prior year property, plant and equipment to the value of R35.6 million in Datlabs and R17.1 million in Ghana were pledged as security for the bank overdrafts of R13.7 million and R11.0 million respectively.

For the purposes of the statement of cash flows, the Group’s cash and cash equivalents at the end of the year includes the following:

       
  Adcock Ingram Private Limited (India) 117 618       
  Ayrton Drug Manufacturing Limited (Ayrton) (11 956)      
  Cash at banks and short-term deposits attributable to the discontinued operations 105 662       

NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS – NOTE 17