RCS GROUP CONSOLIDATED FINANCIAL STATEMENTS
The RCS Group has two reportable segments, as described
below, which are the RCS Group’s strategic business units. The
strategic business units offer different products and services,
and are managed separately because they require different
technology and marketing strategies. For each strategic
business unit, the RCS Group’s board reviews internal
management reports on a monthly basis. The following
summary describes the operations in each of the RCS Group’s
• Cards segment - a general utility and private label card
product offered to consumers, delivered via participating
merchant outlets in South Africa, Namibia and Botswana
and their related insurance products.
• Loans segment - short and medium-term loans offered
to consumers and related insurance products provided
• All other segments includes RCS Investment Holdings
Limited, RCS Home Loans Proprietary Limited, RCS
CollectionsProprietary Limitedandonce-offcorporate costs.
– RCS Investment Holdings Limited acts as the external
funding vehicle for the RCS Group. Commercial paper
and bonds are issued via this entity (see note 17).
– RCS Home Loans Proprietary Limited operations include
the servicing of current home loans.
– RCS Collections Proprietary Limited is a registered
– None of these segments meets any of the quantitative
thresholds for determining reportable segments in the
current or previous financial periods. The RCS
Group’s external customers and assets are
predominantly situated in South Africa, and no single
customer comprises 10% or more of revenue for the
The accounting policies of the reportable segments are the
same as described in note 1.
for the period ended 31 December 2015