The value added statement reports the value added by the activities of the Group and its employees and also shows how the value created has been distributed.
| 2015 | 2016 | 2017 | |
|---|---|---|---|
| Revenue and other income | 339,696 | 299,814 | 324,300 |
| Add net VAT paid | 15,490 | 16,344 | 20,289 |
| Less purchase from partners | (238,546) | (194,780) | (208,955) |
| Less other bought-in goods and services | (25,722) | (22,354) | (30,382) |
| Share of loss from associate | – | – | (1,095) |
| Total value created | 90,918 | 99,024 | 104,157 |
Value added is calculated as the market price of the output of the Group less cost of bought-in goods and services. This value added is distributed to various parties, such as employees, providers of capital, Government or retained in the Group to maintain and develop operations.
We contribute to the economy through job creation, upskilling our staff as well as providing job placements to university students.
We pay Income Tax, VAT, environment protection fee and telecom specific licenses to the Government.
We reinvest profits to finance research and innovation in new technologies as well as to support future growth of the company for the benefit of all our stakeholders.
We pay interest to banks and we indirectly contribute to the economy through the transactions with our suppliers which provide us mostly interest free credit just as we give credit to most of our customers.
We pay interest to banks and we indirectly contribute to the economy through the transactions with our suppliers which provide us mostly interest free credit just as we give credit to most of our customers.