a) and b)
The total amount borrowed by the largest state-owned entities is split into two, which constitutes borrowings by capex entities and borrowings by state-owned development finance institutions (DFIs). The amount that was reflected in financial statements as outstanding / borrowing by capex SOCs, which include ACSA, Eskom, SAA, SANRAL, TCTA and Transnet amounted to R557.1 billion for the 2015-16 financial year as shown in the table below. The interest these entities incurred amounted to R43.9 billion for the 2015-16 financial year.
(Note: the interest incurred refers to the gross interest incurred by the entity before any adjustments such as capitalized interest costs, which would typically “understate” the interest incurred by the entity.)
The amount of debt that was outstanding or classified as borrowings by state-owned DFIs (Land Bank, DBSA and IDC) for the 2015-16 financial year amounted to R112.8 billion. The interest that these DFIs incurred for the 2015-16 financial year amounted to R7.1 billion.
In total, all the nine entities had a total of R669.9 billion shown as balance sheet debt for the 2015-16 financial year with a total interest of R51 billion worth of interest incurred for the same year.
In terms of the funding, the 6 capex SOCs raised gross borrowings (before any repayments) of R117.7 billion for the 2015-16 financial year relative to a budgeted amount of R101.4 billion.
In terms of the funding, the 3 DFIs raised gross borrowings (before any repayments) of R58.8 billion for the 2015-16 financial year relative to a budgeted amount of R76.2 billion.