JAARVERSLAGANNUAL REPORT 2017

www.sambakoop.com

College Square Posbus / PO Box 911Bloemfontein 9300T: 051 444 0334F: 051 444 6255

Charlotte Maxekestraat / street 146Posbus / PO Box 911Bloemfontein 9300T: 051 448 0111F: 051 430 7564

KIMBERLEY

North Cape Sentrum / MallPosbus / PO Box 73Kimberley 8300T: 053 831 1976/7F: 053 831 2806

PORT ELIZABETH

PickeringparkPosbus / PO Box 27007Greenacres 6057T: 041 363 2727F: 041 363 2737

BLOEMFONTEIN

S A M B A (KOÖPERATIEF) B E P E R K S A M B A (CO-OPERATIVE) L I M I T E D

'n Opsomming van die finansiële state verskyn hieronder. A summary of the financial statements is given Die amptelike finansiële state en verslag van die below. The official financial statements and report of the onafhanklike ouditeure sal 14 dae voor die datum van die independent auditors will be open for inspection by members Jaarlikse Algemene Vergadering by die geregistreerde hoof- at the registered head office of the Co-operative 14 days kantoor van die Koöperasie ter insae van lede beskikbaar wees. before the date fixed for the Annual General Meeting.

INKOMSTESTAAT VIR DIE JAAR GEËINDIG INCOME STATEMENT FOR THE YEAR ENDED 15 AUGUSTUS 2017 15 AUGUST 2017

2017 2016 R RINKOMSTE 53 378 638 51 075 288 REVENUEInvorderingsgelde op aankope 27 677 625 26 953 699 Collection fees on purchasesInvorderingsgelde op instansies 946 519 918 592 Collection fees on organisationsRente 13 485 614 12 332 064 Interest Beleggings 5 453 796 4 993 850 Investments Lede 8 031 818 7 338 214 Members

Invorderingsgelde 7 460 343 7 414 391 Collection fees Administrasiegelde 3 808 537 3 456 542 Administration fees

UITGAWES 17 933 255 16 663 292 EXPENDITURESalarisse en ander Personeel uitgawes 10 085 181 9 001 867 Salaries and other Staff expensesOninbare skulde 177 154 8 350 Irrecoverable debtsAlgemene uitgawes 2 289 230 2 329 796 General expensesDrukwerk en Skryfbehoeftes 123 916 109 005 Printing and StationeryPosgeld en Telefoon 603 862 607 135 Postage and TelephoneBankkoste 486 291 492 049 Bank chargesOuditeursvergoeding 213 700 190 089 Audit feeWaardevermindering 406 927 397 296 DepreciationAdvertensies 411 536 432 743 AdvertisementsRente 2 808 613 2 793 940 InterestGebou uitgawes 326 845 301 022 Building expenses

NETTO INKOMSTE 35 445 383 34 411 996 NET REVENUE

VOORGESTELDE VERDELING PROPOSED APPROPRIATIONAUGUSTUS 2017 2017 2016 AUGUST 2017 R RToekenning aan lede 34 606 683 33 636 296 Allocation to members

Kontantbonus op verdienste 100% 24 814 428 23 949 301 100% Cash bonus on earnings (Munisipale dienste ingesluit) (Municipal services included)

UBBF op verdienste 26.34% 7 539 725 7 402 790 26.56% DBPF on earnings

Rente op UBBF 6.5% 2 145 196 2 163 133 7% Interest on DBPF

Rente op ledefonds 6.5% 107 334 121 072 7% Interest on Members' fund

Direkteursvergoeding 784 500 725 400 Directors' remuneration

Komiteevergoeding 54 200 50 300 Committee remuneration 35 445 383 34 411 996

JAARVERSLAG 2017 ANNUAL REPORT 20174 JAARVERSLAG 2017 ANNUAL REPORT 20175

S A M B A (KOöPERATIEF) B E P E R K S A M B A (CO-OPERATIVE) L I M I T E D BALANSSTAAT OP 15 AUGUSTUS 2017 BALANCE SHEET AT 15 AUGUST 2017

2017 2016 R RBATES ASSETS

Nie-bedryfsbates 41 934 524 38 949 802 Non current assetsEiendom, aanleg en toerusting 4 111 550 4 173 347 Property, plant and equipmentLangtermynbeleggings 3 475 083 3 721 656 Long-term investmentsAfbetalingsverkoopooreenkomste Instalment Sales Agreementsen lenings - langtermyn 34 347 891 31 054 799 and loans - long term

Bedryfsbates 209 182 394 204 045 504 Current assetsDebiteure 104 673 131 104 806 228 Debtors Operekeninge 98 077 958 98 137 942 Open accounts Begrotingsrekeninge 6 595 173 6 668 286 Budget accountsAfbetalingsverkoopooreenkomste Instalment Sales Agreements en lenings - korttermyn 24 231 306 22 421 942 and loans - short termInkomstebelasting vooruitbetaal 54 551 32 251 Tax paid in advanceVoorraad 80 068 115 436 InventoryKorttermynbeleggings 4 141 816 4 000 000 Short term investmentsBank en kontantsaldo's 76 001 522 72 669 647 Bank and cash balances

251 116 918 242 995 306

EKWITEIT EN LASTE EQUITY AND LIABILITIES

Ekwiteit 4 286 078 4 170 651 Equity

Aandelekapitaal 115 394 123 712 Share capitalNie-verdeelbare reserwes 1 721 954 1 750 323 Non-distributable reservesAlgemene reserwes 2 448 730 2 296 616 General reserves

Nie-bedryfslaste 52 205 348 50 422 910 Non-current liabilitiesLedefondse - langtermyngedeelte 52 052 382 50 233 257 Members' funds - long term portionUitgestelde belasting las 152 966 189 653 Deferred tax liability

Bedryfslaste 194 625 492 188 401 745 Current liabilitiesLedefondse - korttermyngedeelte 28 760 850 29 744 425 Members' funds-short term portionKrediteure en voorsienings 130 419 259 124 245 324 Creditors and provisionsVerdeelbare inkomste 35 445 383 34 411 996 Distributable income

251 116 918 242 995 306

MRD

Des

igns

• 083

440

454

8

RAAD VAN DIREKTEURE/BOARD OF DIRECTORS JG VAN GRAAN (Voorsitter/Chairman) DA FOSTER (Vise-Voorsitter/ Vice-chairman)

DB BOSHOFFJF BRITZ

ST BRYNARDCJJ COETZER

DV LAMPRECHT

BESTUUR/MANAGEMENTHOOF UITVOERENDE BEAMPTE L HUGGETT CHIEF EXECUTIVE OFFICERHOOF FINANSIËLE BEAMPTE L NEL CHIEF FINANCIAL OFFICERHOOF OPERASIONELE BEAMPTE / SEKRETARIS R WESSELS CHIEF OPERATIONAL OFFICER / SECRETARY

S A K E L Y S

KENNIS GESKIED HIERMEE dat die nege-en-sestigste Jaar likse Algemene Vergadering van Aandeelhouers (lede) van bovermelde Koöperasie gehou sal word in die Terrace by Oliewenhuis, Bloemfontein op WOENSDAG 15 NOVEMBER 2017 om 17:30.

SAKELYS:

1. KENNISGEWING VAN VERGADERING

2. BEKRAGTIGING VAN NOTULES VAN:2.1 Jaarlikse Algemene Vergadering gehou op

16 November 2016

3. SAKE VIR BESPREKING UIT VORIGE NOTULE

4. VERKIESING VAN DIREKTEURE: 3 Direkteure

5. WYSIGING VAN STATUUT: SPESIALE BESLUIT 'n Statuutwysiging van klousule 6(1)(a)(i) word

aanbeveel, wat weens spasie nie aangeheg word nie, maar vir die lede ter insae by die onderskeie kantore beskikbaar is.

6. BESPREKING EN AANNAME VAN DIE VOLGENDE:6.1 Direksieverslag6.2 Inkomste- en Balansstaat

7. VASSTELLING VAN DIE VOLGENDE BETALINGS :7.1 Bonustoekennings aan lede7.2 Honoraria aan Direkteure

8. AANSTELLING VAN OUDITEURE VIR LOPENDE BOEKJAAR

9. INTREKKING VAN AANDELE

10. VERBEURING VAN AANDELE

11. ALGEMEEN

In opdrag van die Direksie R WESSELS SEKRETARIS BLOEMFONTEIN 5 OKTOBER 2017

L.W. Lede word vriendelik versoek om hul lidmaatskap-kaarte by die deur te toon.

*Na die vergadering sal verversings bedien word.

A G E N D A

NOTICE IS HEREBY GIVEN that the sixty-ninth Annual General Meeting of Shareholders (members) of the above Co-operative will be held at the Terrace at Oliewenhuis, Bloemfontein on WEDNESDAY 15 NOVEMBER 2017 at 17:30.

AGENDA:

1. NOTICE OF MEETING

2. CONFIRMATION OF MINUTES:2.1 Annual General Meeting held on 16 November 2016

3. MATTERS ARISING FROM PREVIOUS MINUTES

4. ELECTION OF DIRECTORS: 3 Directors

5. AMENDMENT OF STATUTE: SPECIAL RESOLUTION An amendment of clause 6(1)(a)(i) of the Statute

is hereby recommended, but not attached due to space constraints. This amendment is available for perusal at any of our offices.

6. DISCUSSION AND APPROVAL OF THE FOLLOWING:6.1 Directors’ Report6.2 Income Statement and Balance Sheet

7. TO DETERMINE THE FOLLOWING:7.1 Bonus allocation to Members7.2 Honoraria to Directors

8. APPOINTMENT OF AUDITORS FOR CURRENT FINANCIAL YEAR

9. CANCELLATION OF SHARES

10. FORFEITURE OF SHARES

11. GENERAL

By order of the Board R WESSELS SECRETARY BLOEMFONTEIN 5 OCTOBER 2017

PS. Members are kindly requested to present their membership cards on admission.

*Refreshments will be served after the Meeting.

VOORSITTERSVERSLAGDit is vir my aangenaam om namens die Raad van Direkteure verslag te doen oor die werksaamhede en bedryfsresultate van u Koöperasie vir die afgelope finansiële jaar.

Gedurende 2017 het die Suid-Afrikaanse verbruiker weereens die prys betaal vir beleidsonsekerhede en kredietafgraderings. Alhoewel Suid-Afrika in die tweede kwartaal van 2017 tegnies nie meer in 'n resessie was nie, kleinhandelverkope met 1.8% jaar tot jaar in Julie 2017 gestyg het en huishoudings se skuld tot besteebare inkomste moontlik vir die eerste keer in 'n dekade tot onder 70% sal daal, kan dit van korte duur wees as die swak verbruikers vertroue en die stadige groei in na-inflasie salarisse van die verbruiker in gedagte gehou word.

Dit is juis in tye soos hierdie dat die doel van die Koöperasie, naamlik om sy lede te dien weer sterk na vore tree en kan ons dan nou met trots die resultate van Samba aan u bekend maak.

WERKSAAMHEDE VAN DIE KOöPERASIELede-aankope het vir die eerste keer in die geskiedenis van die Koöperasie die R1 biljoen-kerf bereik en was die totale lede-aankope vir die afgelope jaar R1 004 959 325. Hierdie mylpaal getuig van die lede se voortgesette vertroue en ondersteuning.

CHAIRMAN’S REPORTIt gives me pleasure to report on behalf of the Board of Directors on the activities and trading results of your Co-operative for the past financial year.

During 2017 the South African consumer once again paid the price for policy uncertainties and lower credit ratings. Even though South Africa technically exited recession during the second quarter of 2017, retail purchases increased with 1.8% year on year during July 2017 and the debt of households as percentage of their spendable income will most probably decrease to under 70% for the first time in a decade, this recovery might be short-lived given the weak consumer confidence and slow growth in after-inflation wages.

It is in times like these that the purpose of the Co-operative to serve its members becomes paramount and can we proudly report that the results of the Co-operative bear evidence thereof.

ACTIVITIES OF THE CO-OPERATIVEFor the first time in the history of the Co-operative, member purchases have reached the R1 billion mark. The amount of member purchases was R1 004 959 325 for 2017 which confirms the members' continued trust and support towards Samba.

Samba het tans 22 337 lede en 32 457 kaarthouers en het al reeds ooreenkomste met meer as 15 000 afsetpunte waar lede hul Samba kaarte kan gebruik.

FINANSIëLE RESULTATEDie inkomste verdien uit invorderingsgelde ontvang vanaf die hande laars en ander instansies was R28 624 144 vir 2017, ten spyte van toenemende druk wat van die hande laars ontvang word om hul invorderingskoerse te verlaag.

Die netto wins vir 2017 het gestyg tot 'n rekordbedrag van R6 821 239, wat 'n styging van 4.30% teenoor 2016 verteenwoordig. Hier die goeie resultate is behaal ten spyte van inkomste verliese wat gely is as gevolg van voldoening aan wetgewing, die verlaging van rente koerse en 'n versigtigheid by lede om nuwe skuld aan te gaan.

Hierdie styging in wins bring mee dat daar aanbeveel kan word dat 'n bedrag van R7 539 725 uitgestelde bonus hierdie jaar aan die lede toegeken word.

Ten spyte van strenger kredietkeuringsvereistes in terme van die Nasionale Kredietwet waaraan Samba ook moet voldoen en die versigtigheid van Sambalede om skuld aan te gaan, het Samba se finansiering aan sy lede gestyg met 13.43% tot 'n rekordbedrag van R87 451 040 teenoor R77 095 230 in 2016. Hierdie bedrag verseker weer 'n goeie rente-inkomste vir die Koöperasie vir 2018.

Samba currently has 22 337 members and 32 457 card holders. We also have agreements with more than 15 000 retail outlets where Samba members can use their Samba cards.

FINANCIAL RESULTSAn income of R28 624 144 was received on collections fees from suppliers and other organisations for 2017, despite constant demands by suppliers for a decrease in collection fees.

The net profit for 2017 increased with 4.30% compared to 2016 to a record amount of R6 821 239. These excellent results were achieved despite income loss due to statutory compliance, decreased interest rates and caution amongst Samba members to incur new debt.

Due to this increase in profit, it is recommended that an amount of R7 539 725 be allocated as deferred bonus to members.

Regardless of strict credit rating requirements in terms of the National Credit Act that Samba had to comply with as well as more visible caution amongst Samba members to incur new debt, Samba’s financing to its members increased with 13.43% to an amount of R87 451 040 compared to R77 095 230 in 2016. This amount will ensure higher interest income for the Co-operative in the 2018 financial year.

Considering increased member purchases and financing, it is com mend able that the outstanding debt for 2017 is only R1 598 225 which represents 0.16% of the total member purchases. Excellent credit control once again ensured that only a net amount of R177 154 was written off as irrecoverable debt during 2017. This excellent result contributed to a growth in profit as well as an increased recommended cash payment to members.

CASH PAYMENT AND DEFERRED BONUSThe Board of Directors recommends that the 2011 Deferred Bonus Fund of R4 166 071 be paid to members. This payment will result in a total recommended cash payment of R31 233 029 and a total allocation to members of R38 772 754.

FUTURE PLANNINGThe operational objectives of Samba for the following year are to ensure that the products and services rendered to the Co-operative’s members remain market related and relevant but still be to the benefit of its members. The financial objective for 2018 is to further strengthen the balance sheet of Samba and to pay the highest possible bonus to its members.

ACKNOWLEDGEMENTSThe board wishes to express its appreciation to all the members for their loyal support and for the continued use of their Samba cards for all their monthly purchases.

A special word of thanks to the Chief Executive Officer, the manage ment and all the staff of Samba for the duties performed to the benefit of the members and for the excellent results achieved this past year.

The board also wishes to thank all the suppliers and business partners for their support and co-operation during 2017.

I also want to thank my fellow members of the Board as well as the Committee members of Kimberley for their loyalty, support and contribution without which the above results of the Co-operative would not have been possible.

(Signed) JG van Graan CHAIRPERSON

Nieteenstaande hoër lede-aankope en die verhoogde finan sie rings -boek, is die uitstaande debiteure vir 2017 slegs R1 598 225 wat 0.16% van die totale lede-aankope verteenwoordig. As gevolg van die uitstekende kredietbeheer wat weer gedurende die afgelope jaar in Samba toegepas is, het Samba slegs 'n netto bedrag van R177 154 vir 2017 as oninbaar afgeskryf. Hierdie voor treflike syfer het bygedra tot die winsgroei en verhoogde kontant uitbetalings aan lede wat aanbeveel kan word.

KONTANTUITBETALING EN UITGESTELDE BONUSDie Direksie beveel aan dat die Uitgestelde bonusbetalingsfonds van 2011 van R4 166 071 aan die lede terugbetaal word. Hierdie uit betaling sal meebring dat die totale aanbevole kontant uit betaling R31 233 029 en die totale toekenning aan die lede R38 772 754 sal wees.

TOEKOMSTIGE BEPLANNING Die operasionele doelwitte van Samba vir die volgende jaar is om te verseker dat die produkte en dienste wat die Koöperasie aan sy lede bied markverwant en relevant bly, maar steeds tot voordeel van die lede sal wees. Die finansiële doel vir 2018 is steeds om die balansstaat van Samba te versterk en die hoogste moontlike bonus aan die lede uit te betaal.

DANKBETUIGINGSDie direksie wil graag al die lede bedank vir u getroue onder-steuning en voortgesette gebruik van u Sambakaart vir al u maande likse aankope.

'n Verdere woord van dank aan die Hoof Uitvoerende Beampte, die bestuur en al die personeel van Samba vir die uitvoering van hulle pligte tot voordeel van die lede en vir die resultate wat die afgelope jaar bereik is.

Die direksie bedank ook al ons leweransiers en sake-vennote vir hul hulp en samewerking gedurende 2017.

Ek dra ook my dank oor aan die lede van die Direksie asook die Komitee lede van Kimberley vir hul lojaliteit, insette en bydrae die afgelope jaar, waarsonder hierdie resultate van die Koöperasie nie moontlik sou wees nie.

(Geteken) JG van GraanVOORSITTER

JAARVERSLAG 2017 ANNUAL REPORT 20171 JAARVERSLAG 2017 ANNUAL REPORT 20172 JAARVERSLAG 2017 ANNUAL REPORT 20173

2007 21,92                  #REF!2008 25,84                  17,88%2009 27,74                  7,35%2010 38,30                  38,07%2011 41,12                  7,36%2012 56,27                  36,84%2013 59,99                  6,61%2014 64,03                  6,73%2015 69,64                  8,76%2016 77,10                  10,71%2017 87,45                 

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

21,92

25,84 27,74

38,3

41,12

56,2759,99

64,03

69,64

77,1

87,45

Finansiering / Financing Rm  2007 ‐ 201713.43%

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Finansiering / Financing Rm 2007-2017

21.9225.84 27.74

38.3041.12

56.2759.99

64.03

69.6477.10

87.45

2007 569                8,17%2008 616                8,26%2009 664                7,79%2010 701                5,57%2011 746                6,42%2012 792                6,17%2013 832                5,05%2014 873                4,91%2015 949                8,73%2016 978                3,06% Pas die groeikoers aan na die werklike syfers2017 1 004            2,66%

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

569

616

664

701

746

792

832

872,82

949978

1004Lede‐aankope / Member purchases   Rm    2007 ‐ 2017Lede-aankope / Member purchases Rm 2007 - 2017

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

569616

664

701746

792832

873

949978

1004

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

557 508 

1 043 809 

2 256 825 

695 957 

162 269  43 801 

242 566 

592 072 

265 701 

8 530 177 154 

3 130 638 

3 572 877 

3 186 230 

2 209 305 

1 700 675 

1 278 696 

1 643 940 1 508 343 

1 247 157 1 456 309 

1 598 225 

Uitstaande ‐ en Oninbare Skulde / Outstanding and Bad Debt 2007 ‐ 2017

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Uitstaande- en Oninbare Skulde / Outstanding and Bad Debt 2007 - 2017

557 508

1 043 809

2 256 825

3 130 638 3 186 230

162 269 43 801242 566

592 072265 701

8 530 177 154

2 209 305

1 700 6751 278 696

1 643 940 1 508 3431 247 157 1 456 309

1 598 225

695 957

3 572 877

RAAD VAN DIREKTEURE/BOARD OF DIRECTORS JG VAN GRAAN (Voorsitter/Chairman) DA FOSTER (Vise-Voorsitter/ Vice-chairman)

DB BOSHOFFJF BRITZ

ST BRYNARDCJJ COETZER

DV LAMPRECHT

BESTUUR/MANAGEMENTHOOF UITVOERENDE BEAMPTE L HUGGETT CHIEF EXECUTIVE OFFICERHOOF FINANSIËLE BEAMPTE L NEL CHIEF FINANCIAL OFFICERHOOF OPERASIONELE BEAMPTE / SEKRETARIS R WESSELS CHIEF OPERATIONAL OFFICER / SECRETARY

S A K E L Y S

KENNIS GESKIED HIERMEE dat die nege-en-sestigste Jaar likse Algemene Vergadering van Aandeelhouers (lede) van bovermelde Koöperasie gehou sal word in die Terrace by Oliewenhuis, Bloemfontein op WOENSDAG 15 NOVEMBER 2017 om 17:30.

SAKELYS:

1. KENNISGEWING VAN VERGADERING

2. BEKRAGTIGING VAN NOTULES VAN:2.1 Jaarlikse Algemene Vergadering gehou op

16 November 2016

3. SAKE VIR BESPREKING UIT VORIGE NOTULE

4. VERKIESING VAN DIREKTEURE: 3 Direkteure

5. WYSIGING VAN STATUUT: SPESIALE BESLUIT 'n Statuutwysiging van klousule 6(1)(a)(i) word

aanbeveel, wat weens spasie nie aangeheg word nie, maar vir die lede ter insae by die onderskeie kantore beskikbaar is.

6. BESPREKING EN AANNAME VAN DIE VOLGENDE:6.1 Direksieverslag6.2 Inkomste- en Balansstaat

7. VASSTELLING VAN DIE VOLGENDE BETALINGS :7.1 Bonustoekennings aan lede7.2 Honoraria aan Direkteure

8. AANSTELLING VAN OUDITEURE VIR LOPENDE BOEKJAAR

9. INTREKKING VAN AANDELE

10. VERBEURING VAN AANDELE

11. ALGEMEEN

In opdrag van die Direksie R WESSELS SEKRETARIS BLOEMFONTEIN 5 OKTOBER 2017

L.W. Lede word vriendelik versoek om hul lidmaatskap-kaarte by die deur te toon.

*Na die vergadering sal verversings bedien word.

A G E N D A

NOTICE IS HEREBY GIVEN that the sixty-ninth Annual General Meeting of Shareholders (members) of the above Co-operative will be held at the Terrace at Oliewenhuis, Bloemfontein on WEDNESDAY 15 NOVEMBER 2017 at 17:30.

AGENDA:

1. NOTICE OF MEETING

2. CONFIRMATION OF MINUTES:2.1 Annual General Meeting held on 16 November 2016

3. MATTERS ARISING FROM PREVIOUS MINUTES

4. ELECTION OF DIRECTORS: 3 Directors

5. AMENDMENT OF STATUTE: SPECIAL RESOLUTION An amendment of clause 6(1)(a)(i) of the Statute

is hereby recommended, but not attached due to space constraints. This amendment is available for perusal at any of our offices.

6. DISCUSSION AND APPROVAL OF THE FOLLOWING:6.1 Directors’ Report6.2 Income Statement and Balance Sheet

7. TO DETERMINE THE FOLLOWING:7.1 Bonus allocation to Members7.2 Honoraria to Directors

8. APPOINTMENT OF AUDITORS FOR CURRENT FINANCIAL YEAR

9. CANCELLATION OF SHARES

10. FORFEITURE OF SHARES

11. GENERAL

By order of the Board R WESSELS SECRETARY BLOEMFONTEIN 5 OCTOBER 2017

PS. Members are kindly requested to present their membership cards on admission.

*Refreshments will be served after the Meeting.

VOORSITTERSVERSLAGDit is vir my aangenaam om namens die Raad van Direkteure verslag te doen oor die werksaamhede en bedryfsresultate van u Koöperasie vir die afgelope finansiële jaar.

Gedurende 2017 het die Suid-Afrikaanse verbruiker weereens die prys betaal vir beleidsonsekerhede en kredietafgraderings. Alhoewel Suid-Afrika in die tweede kwartaal van 2017 tegnies nie meer in 'n resessie was nie, kleinhandelverkope met 1.8% jaar tot jaar in Julie 2017 gestyg het en huishoudings se skuld tot besteebare inkomste moontlik vir die eerste keer in 'n dekade tot onder 70% sal daal, kan dit van korte duur wees as die swak verbruikers vertroue en die stadige groei in na-inflasie salarisse van die verbruiker in gedagte gehou word.

Dit is juis in tye soos hierdie dat die doel van die Koöperasie, naamlik om sy lede te dien weer sterk na vore tree en kan ons dan nou met trots die resultate van Samba aan u bekend maak.

WERKSAAMHEDE VAN DIE KOöPERASIELede-aankope het vir die eerste keer in die geskiedenis van die Koöperasie die R1 biljoen-kerf bereik en was die totale lede-aankope vir die afgelope jaar R1 004 959 325. Hierdie mylpaal getuig van die lede se voortgesette vertroue en ondersteuning.

CHAIRMAN’S REPORTIt gives me pleasure to report on behalf of the Board of Directors on the activities and trading results of your Co-operative for the past financial year.

During 2017 the South African consumer once again paid the price for policy uncertainties and lower credit ratings. Even though South Africa technically exited recession during the second quarter of 2017, retail purchases increased with 1.8% year on year during July 2017 and the debt of households as percentage of their spendable income will most probably decrease to under 70% for the first time in a decade, this recovery might be short-lived given the weak consumer confidence and slow growth in after-inflation wages.

It is in times like these that the purpose of the Co-operative to serve its members becomes paramount and can we proudly report that the results of the Co-operative bear evidence thereof.

ACTIVITIES OF THE CO-OPERATIVEFor the first time in the history of the Co-operative, member purchases have reached the R1 billion mark. The amount of member purchases was R1 004 959 325 for 2017 which confirms the members' continued trust and support towards Samba.

Samba het tans 22 337 lede en 32 457 kaarthouers en het al reeds ooreenkomste met meer as 15 000 afsetpunte waar lede hul Samba kaarte kan gebruik.

FINANSIëLE RESULTATEDie inkomste verdien uit invorderingsgelde ontvang vanaf die hande laars en ander instansies was R28 624 144 vir 2017, ten spyte van toenemende druk wat van die hande laars ontvang word om hul invorderingskoerse te verlaag.

Die netto wins vir 2017 het gestyg tot 'n rekordbedrag van R6 821 239, wat 'n styging van 4.30% teenoor 2016 verteenwoordig. Hier die goeie resultate is behaal ten spyte van inkomste verliese wat gely is as gevolg van voldoening aan wetgewing, die verlaging van rente koerse en 'n versigtigheid by lede om nuwe skuld aan te gaan.

Hierdie styging in wins bring mee dat daar aanbeveel kan word dat 'n bedrag van R7 539 725 uitgestelde bonus hierdie jaar aan die lede toegeken word.

Ten spyte van strenger kredietkeuringsvereistes in terme van die Nasionale Kredietwet waaraan Samba ook moet voldoen en die versigtigheid van Sambalede om skuld aan te gaan, het Samba se finansiering aan sy lede gestyg met 13.43% tot 'n rekordbedrag van R87 451 040 teenoor R77 095 230 in 2016. Hierdie bedrag verseker weer 'n goeie rente-inkomste vir die Koöperasie vir 2018.

Samba currently has 22 337 members and 32 457 card holders. We also have agreements with more than 15 000 retail outlets where Samba members can use their Samba cards.

FINANCIAL RESULTSAn income of R28 624 144 was received on collections fees from suppliers and other organisations for 2017, despite constant demands by suppliers for a decrease in collection fees.

The net profit for 2017 increased with 4.30% compared to 2016 to a record amount of R6 821 239. These excellent results were achieved despite income loss due to statutory compliance, decreased interest rates and caution amongst Samba members to incur new debt.

Due to this increase in profit, it is recommended that an amount of R7 539 725 be allocated as deferred bonus to members.

Regardless of strict credit rating requirements in terms of the National Credit Act that Samba had to comply with as well as more visible caution amongst Samba members to incur new debt, Samba’s financing to its members increased with 13.43% to an amount of R87 451 040 compared to R77 095 230 in 2016. This amount will ensure higher interest income for the Co-operative in the 2018 financial year.

Considering increased member purchases and financing, it is com mend able that the outstanding debt for 2017 is only R1 598 225 which represents 0.16% of the total member purchases. Excellent credit control once again ensured that only a net amount of R177 154 was written off as irrecoverable debt during 2017. This excellent result contributed to a growth in profit as well as an increased recommended cash payment to members.

CASH PAYMENT AND DEFERRED BONUSThe Board of Directors recommends that the 2011 Deferred Bonus Fund of R4 166 071 be paid to members. This payment will result in a total recommended cash payment of R31 233 029 and a total allocation to members of R38 772 754.

FUTURE PLANNINGThe operational objectives of Samba for the following year are to ensure that the products and services rendered to the Co-operative’s members remain market related and relevant but still be to the benefit of its members. The financial objective for 2018 is to further strengthen the balance sheet of Samba and to pay the highest possible bonus to its members.

ACKNOWLEDGEMENTSThe board wishes to express its appreciation to all the members for their loyal support and for the continued use of their Samba cards for all their monthly purchases.

A special word of thanks to the Chief Executive Officer, the manage ment and all the staff of Samba for the duties performed to the benefit of the members and for the excellent results achieved this past year.

The board also wishes to thank all the suppliers and business partners for their support and co-operation during 2017.

I also want to thank my fellow members of the Board as well as the Committee members of Kimberley for their loyalty, support and contribution without which the above results of the Co-operative would not have been possible.

(Signed) JG van Graan CHAIRPERSON

Nieteenstaande hoër lede-aankope en die verhoogde finan sie rings -boek, is die uitstaande debiteure vir 2017 slegs R1 598 225 wat 0.16% van die totale lede-aankope verteenwoordig. As gevolg van die uitstekende kredietbeheer wat weer gedurende die afgelope jaar in Samba toegepas is, het Samba slegs 'n netto bedrag van R177 154 vir 2017 as oninbaar afgeskryf. Hierdie voor treflike syfer het bygedra tot die winsgroei en verhoogde kontant uitbetalings aan lede wat aanbeveel kan word.

KONTANTUITBETALING EN UITGESTELDE BONUSDie Direksie beveel aan dat die Uitgestelde bonusbetalingsfonds van 2011 van R4 166 071 aan die lede terugbetaal word. Hierdie uit betaling sal meebring dat die totale aanbevole kontant uit betaling R31 233 029 en die totale toekenning aan die lede R38 772 754 sal wees.

TOEKOMSTIGE BEPLANNING Die operasionele doelwitte van Samba vir die volgende jaar is om te verseker dat die produkte en dienste wat die Koöperasie aan sy lede bied markverwant en relevant bly, maar steeds tot voordeel van die lede sal wees. Die finansiële doel vir 2018 is steeds om die balansstaat van Samba te versterk en die hoogste moontlike bonus aan die lede uit te betaal.

DANKBETUIGINGSDie direksie wil graag al die lede bedank vir u getroue onder-steuning en voortgesette gebruik van u Sambakaart vir al u maande likse aankope.

'n Verdere woord van dank aan die Hoof Uitvoerende Beampte, die bestuur en al die personeel van Samba vir die uitvoering van hulle pligte tot voordeel van die lede en vir die resultate wat die afgelope jaar bereik is.

Die direksie bedank ook al ons leweransiers en sake-vennote vir hul hulp en samewerking gedurende 2017.

Ek dra ook my dank oor aan die lede van die Direksie asook die Komitee lede van Kimberley vir hul lojaliteit, insette en bydrae die afgelope jaar, waarsonder hierdie resultate van die Koöperasie nie moontlik sou wees nie.

(Geteken) JG van GraanVOORSITTER

JAARVERSLAG 2017 ANNUAL REPORT 20171 JAARVERSLAG 2017 ANNUAL REPORT 20172 JAARVERSLAG 2017 ANNUAL REPORT 20173

2007 21,92                  #REF!2008 25,84                  17,88%2009 27,74                  7,35%2010 38,30                  38,07%2011 41,12                  7,36%2012 56,27                  36,84%2013 59,99                  6,61%2014 64,03                  6,73%2015 69,64                  8,76%2016 77,10                  10,71%2017 87,45                 

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

21,92

25,84 27,74

38,3

41,12

56,2759,99

64,03

69,64

77,1

87,45

Finansiering / Financing Rm  2007 ‐ 201713.43%

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Finansiering / Financing Rm 2007-2017

21.9225.84 27.74

38.3041.12

56.2759.99

64.03

69.6477.10

87.45

2007 569                8,17%2008 616                8,26%2009 664                7,79%2010 701                5,57%2011 746                6,42%2012 792                6,17%2013 832                5,05%2014 873                4,91%2015 949                8,73%2016 978                3,06% Pas die groeikoers aan na die werklike syfers2017 1 004            2,66%

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

569

616

664

701

746

792

832

872,82

949978

1004Lede‐aankope / Member purchases   Rm    2007 ‐ 2017Lede-aankope / Member purchases Rm 2007 - 2017

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

569616

664

701746

792832

873

949978

1004

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

557 508 

1 043 809 

2 256 825 

695 957 

162 269  43 801 

242 566 

592 072 

265 701 

8 530 177 154 

3 130 638 

3 572 877 

3 186 230 

2 209 305 

1 700 675 

1 278 696 

1 643 940 1 508 343 

1 247 157 1 456 309 

1 598 225 

Uitstaande ‐ en Oninbare Skulde / Outstanding and Bad Debt 2007 ‐ 2017

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Uitstaande- en Oninbare Skulde / Outstanding and Bad Debt 2007 - 2017

557 508

1 043 809

2 256 825

3 130 638 3 186 230

162 269 43 801242 566

592 072265 701

8 530 177 154

2 209 305

1 700 6751 278 696

1 643 940 1 508 3431 247 157 1 456 309

1 598 225

695 957

3 572 877

RAAD VAN DIREKTEURE/BOARD OF DIRECTORS JG VAN GRAAN (Voorsitter/Chairman) DA FOSTER (Vise-Voorsitter/ Vice-chairman)

DB BOSHOFFJF BRITZ

ST BRYNARDCJJ COETZER

DV LAMPRECHT

BESTUUR/MANAGEMENTHOOF UITVOERENDE BEAMPTE L HUGGETT CHIEF EXECUTIVE OFFICERHOOF FINANSIËLE BEAMPTE L NEL CHIEF FINANCIAL OFFICERHOOF OPERASIONELE BEAMPTE / SEKRETARIS R WESSELS CHIEF OPERATIONAL OFFICER / SECRETARY

S A K E L Y S

KENNIS GESKIED HIERMEE dat die nege-en-sestigste Jaar likse Algemene Vergadering van Aandeelhouers (lede) van bovermelde Koöperasie gehou sal word in die Terrace by Oliewenhuis, Bloemfontein op WOENSDAG 15 NOVEMBER 2017 om 17:30.

SAKELYS:

1. KENNISGEWING VAN VERGADERING

2. BEKRAGTIGING VAN NOTULES VAN:2.1 Jaarlikse Algemene Vergadering gehou op

16 November 2016

3. SAKE VIR BESPREKING UIT VORIGE NOTULE

4. VERKIESING VAN DIREKTEURE: 3 Direkteure

5. WYSIGING VAN STATUUT: SPESIALE BESLUIT 'n Statuutwysiging van klousule 6(1)(a)(i) word

aanbeveel, wat weens spasie nie aangeheg word nie, maar vir die lede ter insae by die onderskeie kantore beskikbaar is.

6. BESPREKING EN AANNAME VAN DIE VOLGENDE:6.1 Direksieverslag6.2 Inkomste- en Balansstaat

7. VASSTELLING VAN DIE VOLGENDE BETALINGS :7.1 Bonustoekennings aan lede7.2 Honoraria aan Direkteure

8. AANSTELLING VAN OUDITEURE VIR LOPENDE BOEKJAAR

9. INTREKKING VAN AANDELE

10. VERBEURING VAN AANDELE

11. ALGEMEEN

In opdrag van die Direksie R WESSELS SEKRETARIS BLOEMFONTEIN 5 OKTOBER 2017

L.W. Lede word vriendelik versoek om hul lidmaatskap-kaarte by die deur te toon.

*Na die vergadering sal verversings bedien word.

A G E N D A

NOTICE IS HEREBY GIVEN that the sixty-ninth Annual General Meeting of Shareholders (members) of the above Co-operative will be held at the Terrace at Oliewenhuis, Bloemfontein on WEDNESDAY 15 NOVEMBER 2017 at 17:30.

AGENDA:

1. NOTICE OF MEETING

2. CONFIRMATION OF MINUTES:2.1 Annual General Meeting held on 16 November 2016

3. MATTERS ARISING FROM PREVIOUS MINUTES

4. ELECTION OF DIRECTORS: 3 Directors

5. AMENDMENT OF STATUTE: SPECIAL RESOLUTION An amendment of clause 6(1)(a)(i) of the Statute

is hereby recommended, but not attached due to space constraints. This amendment is available for perusal at any of our offices.

6. DISCUSSION AND APPROVAL OF THE FOLLOWING:6.1 Directors’ Report6.2 Income Statement and Balance Sheet

7. TO DETERMINE THE FOLLOWING:7.1 Bonus allocation to Members7.2 Honoraria to Directors

8. APPOINTMENT OF AUDITORS FOR CURRENT FINANCIAL YEAR

9. CANCELLATION OF SHARES

10. FORFEITURE OF SHARES

11. GENERAL

By order of the Board R WESSELS SECRETARY BLOEMFONTEIN 5 OCTOBER 2017

PS. Members are kindly requested to present their membership cards on admission.

*Refreshments will be served after the Meeting.

VOORSITTERSVERSLAGDit is vir my aangenaam om namens die Raad van Direkteure verslag te doen oor die werksaamhede en bedryfsresultate van u Koöperasie vir die afgelope finansiële jaar.

Gedurende 2017 het die Suid-Afrikaanse verbruiker weereens die prys betaal vir beleidsonsekerhede en kredietafgraderings. Alhoewel Suid-Afrika in die tweede kwartaal van 2017 tegnies nie meer in 'n resessie was nie, kleinhandelverkope met 1.8% jaar tot jaar in Julie 2017 gestyg het en huishoudings se skuld tot besteebare inkomste moontlik vir die eerste keer in 'n dekade tot onder 70% sal daal, kan dit van korte duur wees as die swak verbruikers vertroue en die stadige groei in na-inflasie salarisse van die verbruiker in gedagte gehou word.

Dit is juis in tye soos hierdie dat die doel van die Koöperasie, naamlik om sy lede te dien weer sterk na vore tree en kan ons dan nou met trots die resultate van Samba aan u bekend maak.

WERKSAAMHEDE VAN DIE KOöPERASIELede-aankope het vir die eerste keer in die geskiedenis van die Koöperasie die R1 biljoen-kerf bereik en was die totale lede-aankope vir die afgelope jaar R1 004 959 325. Hierdie mylpaal getuig van die lede se voortgesette vertroue en ondersteuning.

CHAIRMAN’S REPORTIt gives me pleasure to report on behalf of the Board of Directors on the activities and trading results of your Co-operative for the past financial year.

During 2017 the South African consumer once again paid the price for policy uncertainties and lower credit ratings. Even though South Africa technically exited recession during the second quarter of 2017, retail purchases increased with 1.8% year on year during July 2017 and the debt of households as percentage of their spendable income will most probably decrease to under 70% for the first time in a decade, this recovery might be short-lived given the weak consumer confidence and slow growth in after-inflation wages.

It is in times like these that the purpose of the Co-operative to serve its members becomes paramount and can we proudly report that the results of the Co-operative bear evidence thereof.

ACTIVITIES OF THE CO-OPERATIVEFor the first time in the history of the Co-operative, member purchases have reached the R1 billion mark. The amount of member purchases was R1 004 959 325 for 2017 which confirms the members' continued trust and support towards Samba.

Samba het tans 22 337 lede en 32 457 kaarthouers en het al reeds ooreenkomste met meer as 15 000 afsetpunte waar lede hul Samba kaarte kan gebruik.

FINANSIëLE RESULTATEDie inkomste verdien uit invorderingsgelde ontvang vanaf die hande laars en ander instansies was R28 624 144 vir 2017, ten spyte van toenemende druk wat van die hande laars ontvang word om hul invorderingskoerse te verlaag.

Die netto wins vir 2017 het gestyg tot 'n rekordbedrag van R6 821 239, wat 'n styging van 4.30% teenoor 2016 verteenwoordig. Hier die goeie resultate is behaal ten spyte van inkomste verliese wat gely is as gevolg van voldoening aan wetgewing, die verlaging van rente koerse en 'n versigtigheid by lede om nuwe skuld aan te gaan.

Hierdie styging in wins bring mee dat daar aanbeveel kan word dat 'n bedrag van R7 539 725 uitgestelde bonus hierdie jaar aan die lede toegeken word.

Ten spyte van strenger kredietkeuringsvereistes in terme van die Nasionale Kredietwet waaraan Samba ook moet voldoen en die versigtigheid van Sambalede om skuld aan te gaan, het Samba se finansiering aan sy lede gestyg met 13.43% tot 'n rekordbedrag van R87 451 040 teenoor R77 095 230 in 2016. Hierdie bedrag verseker weer 'n goeie rente-inkomste vir die Koöperasie vir 2018.

Samba currently has 22 337 members and 32 457 card holders. We also have agreements with more than 15 000 retail outlets where Samba members can use their Samba cards.

FINANCIAL RESULTSAn income of R28 624 144 was received on collections fees from suppliers and other organisations for 2017, despite constant demands by suppliers for a decrease in collection fees.

The net profit for 2017 increased with 4.30% compared to 2016 to a record amount of R6 821 239. These excellent results were achieved despite income loss due to statutory compliance, decreased interest rates and caution amongst Samba members to incur new debt.

Due to this increase in profit, it is recommended that an amount of R7 539 725 be allocated as deferred bonus to members.

Regardless of strict credit rating requirements in terms of the National Credit Act that Samba had to comply with as well as more visible caution amongst Samba members to incur new debt, Samba’s financing to its members increased with 13.43% to an amount of R87 451 040 compared to R77 095 230 in 2016. This amount will ensure higher interest income for the Co-operative in the 2018 financial year.

Considering increased member purchases and financing, it is com mend able that the outstanding debt for 2017 is only R1 598 225 which represents 0.16% of the total member purchases. Excellent credit control once again ensured that only a net amount of R177 154 was written off as irrecoverable debt during 2017. This excellent result contributed to a growth in profit as well as an increased recommended cash payment to members.

CASH PAYMENT AND DEFERRED BONUSThe Board of Directors recommends that the 2011 Deferred Bonus Fund of R4 166 071 be paid to members. This payment will result in a total recommended cash payment of R31 233 029 and a total allocation to members of R38 772 754.

FUTURE PLANNINGThe operational objectives of Samba for the following year are to ensure that the products and services rendered to the Co-operative’s members remain market related and relevant but still be to the benefit of its members. The financial objective for 2018 is to further strengthen the balance sheet of Samba and to pay the highest possible bonus to its members.

ACKNOWLEDGEMENTSThe board wishes to express its appreciation to all the members for their loyal support and for the continued use of their Samba cards for all their monthly purchases.

A special word of thanks to the Chief Executive Officer, the manage ment and all the staff of Samba for the duties performed to the benefit of the members and for the excellent results achieved this past year.

The board also wishes to thank all the suppliers and business partners for their support and co-operation during 2017.

I also want to thank my fellow members of the Board as well as the Committee members of Kimberley for their loyalty, support and contribution without which the above results of the Co-operative would not have been possible.

(Signed) JG van Graan CHAIRPERSON

Nieteenstaande hoër lede-aankope en die verhoogde finan sie rings -boek, is die uitstaande debiteure vir 2017 slegs R1 598 225 wat 0.16% van die totale lede-aankope verteenwoordig. As gevolg van die uitstekende kredietbeheer wat weer gedurende die afgelope jaar in Samba toegepas is, het Samba slegs 'n netto bedrag van R177 154 vir 2017 as oninbaar afgeskryf. Hierdie voor treflike syfer het bygedra tot die winsgroei en verhoogde kontant uitbetalings aan lede wat aanbeveel kan word.

KONTANTUITBETALING EN UITGESTELDE BONUSDie Direksie beveel aan dat die Uitgestelde bonusbetalingsfonds van 2011 van R4 166 071 aan die lede terugbetaal word. Hierdie uit betaling sal meebring dat die totale aanbevole kontant uit betaling R31 233 029 en die totale toekenning aan die lede R38 772 754 sal wees.

TOEKOMSTIGE BEPLANNING Die operasionele doelwitte van Samba vir die volgende jaar is om te verseker dat die produkte en dienste wat die Koöperasie aan sy lede bied markverwant en relevant bly, maar steeds tot voordeel van die lede sal wees. Die finansiële doel vir 2018 is steeds om die balansstaat van Samba te versterk en die hoogste moontlike bonus aan die lede uit te betaal.

DANKBETUIGINGSDie direksie wil graag al die lede bedank vir u getroue onder-steuning en voortgesette gebruik van u Sambakaart vir al u maande likse aankope.

'n Verdere woord van dank aan die Hoof Uitvoerende Beampte, die bestuur en al die personeel van Samba vir die uitvoering van hulle pligte tot voordeel van die lede en vir die resultate wat die afgelope jaar bereik is.

Die direksie bedank ook al ons leweransiers en sake-vennote vir hul hulp en samewerking gedurende 2017.

Ek dra ook my dank oor aan die lede van die Direksie asook die Komitee lede van Kimberley vir hul lojaliteit, insette en bydrae die afgelope jaar, waarsonder hierdie resultate van die Koöperasie nie moontlik sou wees nie.

(Geteken) JG van GraanVOORSITTER

JAARVERSLAG 2017 ANNUAL REPORT 20171 JAARVERSLAG 2017 ANNUAL REPORT 20172 JAARVERSLAG 2017 ANNUAL REPORT 20173

2007 21,92                  #REF!2008 25,84                  17,88%2009 27,74                  7,35%2010 38,30                  38,07%2011 41,12                  7,36%2012 56,27                  36,84%2013 59,99                  6,61%2014 64,03                  6,73%2015 69,64                  8,76%2016 77,10                  10,71%2017 87,45                 

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

21,92

25,84 27,74

38,3

41,12

56,2759,99

64,03

69,64

77,1

87,45

Finansiering / Financing Rm  2007 ‐ 201713.43%

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Finansiering / Financing Rm 2007-2017

21.9225.84 27.74

38.3041.12

56.2759.99

64.03

69.6477.10

87.45

2007 569                8,17%2008 616                8,26%2009 664                7,79%2010 701                5,57%2011 746                6,42%2012 792                6,17%2013 832                5,05%2014 873                4,91%2015 949                8,73%2016 978                3,06% Pas die groeikoers aan na die werklike syfers2017 1 004            2,66%

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

569

616

664

701

746

792

832

872,82

949978

1004Lede‐aankope / Member purchases   Rm    2007 ‐ 2017Lede-aankope / Member purchases Rm 2007 - 2017

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

569616

664

701746

792832

873

949978

1004

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

557 508 

1 043 809 

2 256 825 

695 957 

162 269  43 801 

242 566 

592 072 

265 701 

8 530 177 154 

3 130 638 

3 572 877 

3 186 230 

2 209 305 

1 700 675 

1 278 696 

1 643 940 1 508 343 

1 247 157 1 456 309 

1 598 225 

Uitstaande ‐ en Oninbare Skulde / Outstanding and Bad Debt 2007 ‐ 2017

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Uitstaande- en Oninbare Skulde / Outstanding and Bad Debt 2007 - 2017

557 508

1 043 809

2 256 825

3 130 638 3 186 230

162 269 43 801242 566

592 072265 701

8 530 177 154

2 209 305

1 700 6751 278 696

1 643 940 1 508 3431 247 157 1 456 309

1 598 225

695 957

3 572 877

JAARVERSLAGANNUAL REPORT 2017

www.sambakoop.com

College Square Posbus / PO Box 911Bloemfontein 9300T: 051 444 0334F: 051 444 6255

Charlotte Maxekestraat / street 146Posbus / PO Box 911Bloemfontein 9300T: 051 448 0111F: 051 430 7564

KIMBERLEY

North Cape Sentrum / MallPosbus / PO Box 73Kimberley 8300T: 053 831 1976/7F: 053 831 2806

PORT ELIZABETH

PickeringparkPosbus / PO Box 27007Greenacres 6057T: 041 363 2727F: 041 363 2737

BLOEMFONTEIN

S A M B A (KOÖPERATIEF) B E P E R K S A M B A (CO-OPERATIVE) L I M I T E D

'n Opsomming van die finansiële state verskyn hieronder. A summary of the financial statements is given Die amptelike finansiële state en verslag van die below. The official financial statements and report of the onafhanklike ouditeure sal 14 dae voor die datum van die independent auditors will be open for inspection by members Jaarlikse Algemene Vergadering by die geregistreerde hoof- at the registered head office of the Co-operative 14 days kantoor van die Koöperasie ter insae van lede beskikbaar wees. before the date fixed for the Annual General Meeting.

INKOMSTESTAAT VIR DIE JAAR GEËINDIG INCOME STATEMENT FOR THE YEAR ENDED 15 AUGUSTUS 2017 15 AUGUST 2017

2017 2016 R RINKOMSTE 53 378 638 51 075 288 REVENUEInvorderingsgelde op aankope 27 677 625 26 953 699 Collection fees on purchasesInvorderingsgelde op instansies 946 519 918 592 Collection fees on organisationsRente 13 485 614 12 332 064 Interest Beleggings 5 453 796 4 993 850 Investments Lede 8 031 818 7 338 214 Members

Invorderingsgelde 7 460 343 7 414 391 Collection fees Administrasiegelde 3 808 537 3 456 542 Administration fees

UITGAWES 17 933 255 16 663 292 EXPENDITURESalarisse en ander Personeel uitgawes 10 085 181 9 001 867 Salaries and other Staff expensesOninbare skulde 177 154 8 350 Irrecoverable debtsAlgemene uitgawes 2 289 230 2 329 796 General expensesDrukwerk en Skryfbehoeftes 123 916 109 005 Printing and StationeryPosgeld en Telefoon 603 862 607 135 Postage and TelephoneBankkoste 486 291 492 049 Bank chargesOuditeursvergoeding 213 700 190 089 Audit feeWaardevermindering 406 927 397 296 DepreciationAdvertensies 411 536 432 743 AdvertisementsRente 2 808 613 2 793 940 InterestGebou uitgawes 326 845 301 022 Building expenses

NETTO INKOMSTE 35 445 383 34 411 996 NET REVENUE

VOORGESTELDE VERDELING PROPOSED APPROPRIATIONAUGUSTUS 2017 2017 2016 AUGUST 2017 R RToekenning aan lede 34 606 683 33 636 296 Allocation to members

Kontantbonus op verdienste 100% 24 814 428 23 949 301 100% Cash bonus on earnings (Munisipale dienste ingesluit) (Municipal services included)

UBBF op verdienste 26.34% 7 539 725 7 402 790 26.56% DBPF on earnings

Rente op UBBF 6.5% 2 145 196 2 163 133 7% Interest on DBPF

Rente op ledefonds 6.5% 107 334 121 072 7% Interest on Members' fund

Direkteursvergoeding 784 500 725 400 Directors' remuneration

Komiteevergoeding 54 200 50 300 Committee remuneration 35 445 383 34 411 996

JAARVERSLAG 2017 ANNUAL REPORT 20174 JAARVERSLAG 2017 ANNUAL REPORT 20175

S A M B A (KOöPERATIEF) B E P E R K S A M B A (CO-OPERATIVE) L I M I T E D BALANSSTAAT OP 15 AUGUSTUS 2017 BALANCE SHEET AT 15 AUGUST 2017

2017 2016 R RBATES ASSETS

Nie-bedryfsbates 41 934 524 38 949 802 Non current assetsEiendom, aanleg en toerusting 4 111 550 4 173 347 Property, plant and equipmentLangtermynbeleggings 3 475 083 3 721 656 Long-term investmentsAfbetalingsverkoopooreenkomste Instalment Sales Agreementsen lenings - langtermyn 34 347 891 31 054 799 and loans - long term

Bedryfsbates 209 182 394 204 045 504 Current assetsDebiteure 104 673 131 104 806 228 Debtors Operekeninge 98 077 958 98 137 942 Open accounts Begrotingsrekeninge 6 595 173 6 668 286 Budget accountsAfbetalingsverkoopooreenkomste Instalment Sales Agreements en lenings - korttermyn 24 231 306 22 421 942 and loans - short termInkomstebelasting vooruitbetaal 54 551 32 251 Tax paid in advanceVoorraad 80 068 115 436 InventoryKorttermynbeleggings 4 141 816 4 000 000 Short term investmentsBank en kontantsaldo's 76 001 522 72 669 647 Bank and cash balances

251 116 918 242 995 306

EKWITEIT EN LASTE EQUITY AND LIABILITIES

Ekwiteit 4 286 078 4 170 651 Equity

Aandelekapitaal 115 394 123 712 Share capitalNie-verdeelbare reserwes 1 721 954 1 750 323 Non-distributable reservesAlgemene reserwes 2 448 730 2 296 616 General reserves

Nie-bedryfslaste 52 205 348 50 422 910 Non-current liabilitiesLedefondse - langtermyngedeelte 52 052 382 50 233 257 Members' funds - long term portionUitgestelde belasting las 152 966 189 653 Deferred tax liability

Bedryfslaste 194 625 492 188 401 745 Current liabilitiesLedefondse - korttermyngedeelte 28 760 850 29 744 425 Members' funds-short term portionKrediteure en voorsienings 130 419 259 124 245 324 Creditors and provisionsVerdeelbare inkomste 35 445 383 34 411 996 Distributable income

251 116 918 242 995 306

MRD

Des

igns

• 083

440

454

8

JAARVERSLAGANNUAL REPORT 2017

www.sambakoop.com

College Square Posbus / PO Box 911Bloemfontein 9300T: 051 444 0334F: 051 444 6255

Charlotte Maxekestraat / street 146Posbus / PO Box 911Bloemfontein 9300T: 051 448 0111F: 051 430 7564

KIMBERLEY

North Cape Sentrum / MallPosbus / PO Box 73Kimberley 8300T: 053 831 1976/7F: 053 831 2806

PORT ELIZABETH

PickeringparkPosbus / PO Box 27007Greenacres 6057T: 041 363 2727F: 041 363 2737

BLOEMFONTEIN

S A M B A (KOÖPERATIEF) B E P E R K S A M B A (CO-OPERATIVE) L I M I T E D

'n Opsomming van die finansiële state verskyn hieronder. A summary of the financial statements is given Die amptelike finansiële state en verslag van die below. The official financial statements and report of the onafhanklike ouditeure sal 14 dae voor die datum van die independent auditors will be open for inspection by members Jaarlikse Algemene Vergadering by die geregistreerde hoof- at the registered head office of the Co-operative 14 days kantoor van die Koöperasie ter insae van lede beskikbaar wees. before the date fixed for the Annual General Meeting.

INKOMSTESTAAT VIR DIE JAAR GEËINDIG INCOME STATEMENT FOR THE YEAR ENDED 15 AUGUSTUS 2017 15 AUGUST 2017

2017 2016 R RINKOMSTE 53 378 638 51 075 288 REVENUEInvorderingsgelde op aankope 27 677 625 26 953 699 Collection fees on purchasesInvorderingsgelde op instansies 946 519 918 592 Collection fees on organisationsRente 13 485 614 12 332 064 Interest Beleggings 5 453 796 4 993 850 Investments Lede 8 031 818 7 338 214 Members

Invorderingsgelde 7 460 343 7 414 391 Collection fees Administrasiegelde 3 808 537 3 456 542 Administration fees

UITGAWES 17 933 255 16 663 292 EXPENDITURESalarisse en ander Personeel uitgawes 10 085 181 9 001 867 Salaries and other Staff expensesOninbare skulde 177 154 8 350 Irrecoverable debtsAlgemene uitgawes 2 289 230 2 329 796 General expensesDrukwerk en Skryfbehoeftes 123 916 109 005 Printing and StationeryPosgeld en Telefoon 603 862 607 135 Postage and TelephoneBankkoste 486 291 492 049 Bank chargesOuditeursvergoeding 213 700 190 089 Audit feeWaardevermindering 406 927 397 296 DepreciationAdvertensies 411 536 432 743 AdvertisementsRente 2 808 613 2 793 940 InterestGebou uitgawes 326 845 301 022 Building expenses

NETTO INKOMSTE 35 445 383 34 411 996 NET REVENUE

VOORGESTELDE VERDELING PROPOSED APPROPRIATIONAUGUSTUS 2017 2017 2016 AUGUST 2017 R RToekenning aan lede 34 606 683 33 636 296 Allocation to members

Kontantbonus op verdienste 100% 24 814 428 23 949 301 100% Cash bonus on earnings (Munisipale dienste ingesluit) (Municipal services included)

UBBF op verdienste 26.34% 7 539 725 7 402 790 26.56% DBPF on earnings

Rente op UBBF 6.5% 2 145 196 2 163 133 7% Interest on DBPF

Rente op ledefonds 6.5% 107 334 121 072 7% Interest on Members' fund

Direkteursvergoeding 784 500 725 400 Directors' remuneration

Komiteevergoeding 54 200 50 300 Committee remuneration 35 445 383 34 411 996

JAARVERSLAG 2017 ANNUAL REPORT 20174 JAARVERSLAG 2017 ANNUAL REPORT 20175

S A M B A (KOöPERATIEF) B E P E R K S A M B A (CO-OPERATIVE) L I M I T E D BALANSSTAAT OP 15 AUGUSTUS 2017 BALANCE SHEET AT 15 AUGUST 2017

2017 2016 R RBATES ASSETS

Nie-bedryfsbates 41 934 524 38 949 802 Non current assetsEiendom, aanleg en toerusting 4 111 550 4 173 347 Property, plant and equipmentLangtermynbeleggings 3 475 083 3 721 656 Long-term investmentsAfbetalingsverkoopooreenkomste Instalment Sales Agreementsen lenings - langtermyn 34 347 891 31 054 799 and loans - long term

Bedryfsbates 209 182 394 204 045 504 Current assetsDebiteure 104 673 131 104 806 228 Debtors Operekeninge 98 077 958 98 137 942 Open accounts Begrotingsrekeninge 6 595 173 6 668 286 Budget accountsAfbetalingsverkoopooreenkomste Instalment Sales Agreements en lenings - korttermyn 24 231 306 22 421 942 and loans - short termInkomstebelasting vooruitbetaal 54 551 32 251 Tax paid in advanceVoorraad 80 068 115 436 InventoryKorttermynbeleggings 4 141 816 4 000 000 Short term investmentsBank en kontantsaldo's 76 001 522 72 669 647 Bank and cash balances

251 116 918 242 995 306

EKWITEIT EN LASTE EQUITY AND LIABILITIES

Ekwiteit 4 286 078 4 170 651 Equity

Aandelekapitaal 115 394 123 712 Share capitalNie-verdeelbare reserwes 1 721 954 1 750 323 Non-distributable reservesAlgemene reserwes 2 448 730 2 296 616 General reserves

Nie-bedryfslaste 52 205 348 50 422 910 Non-current liabilitiesLedefondse - langtermyngedeelte 52 052 382 50 233 257 Members' funds - long term portionUitgestelde belasting las 152 966 189 653 Deferred tax liability

Bedryfslaste 194 625 492 188 401 745 Current liabilitiesLedefondse - korttermyngedeelte 28 760 850 29 744 425 Members' funds-short term portionKrediteure en voorsienings 130 419 259 124 245 324 Creditors and provisionsVerdeelbare inkomste 35 445 383 34 411 996 Distributable income

251 116 918 242 995 306

MRD

Des

igns

• 083

440

454

8