NOTES TO THE CONSOLIDATED ANNUAL FINANCIAL STATEMENTS | NOTE 26
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    Group Company  
      2013
Rm		   2012
Rm		   2013
Rm		   2012
Rm		  
26. NON DISTRIBUTABLE RESERVES   2,164   1,887          
  Opening balance   1,887   1,764          
  Movement during year   277   123          
    Foreign currency translation reserve (net of tax of RNil million; 2012: RNil million)   (3)   (52)          
    Available-for-sale investment   –   (5)          
    Gains of the Cell Captive reserve   (40)   (25)          
    Revaluation of the Cell Captive reserve   320   205          
  The balance comprises:   2,164   1,887          
  Foreign currency translation reserve   (126)   (123)          
  Cell Captive reserve   2,290   2,010          
 

The Group has a consolidated Cell Captive, used as an investment to fund Telkom’s post-retirement medical aid liability.

The earnings from the Cell Captive are recognised in profit or loss and then transferred to non-distributable reserves.

The available-for-sale investment is a re-insurance premium of the Cell Captive recognised directly in equity.

                  
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