Notes to the annual financial statements

17.	cash and cash equivalents
		2010 R million	2009 R million
	Cash at the centre	2 850	4 389
	Operating subsidiaries	977	661
		3 827	5 050
	The cash is held in the following currencies:
	South African rand	1 388	1 513
	British pound	109	118
	USA dollar	1 255	2 283
	Euro	896	946
	Swiss franc	158	190
	Other	21	–
		3 827	5 050
	t year-end cash and cash equivalents earned interest at effective interest rates that varied between 6.00% and 7.73% (2009: 9.25% and 10.86%) per annum at local financial institutions and between 0.02% and 6.15% (2009: 0.03% and 5.30%) per annum abroad.

	United Kingdom treasury bills	33	41
	United States treasury bills	–	772
	German treasury instruments	122	157
	Current accounts and money market instruments	3 672	4 079
	Cash	–	1
		3 827	5 050

	At year-end the Group’s cash was invested at financial institutions with the following
	Moody’s credit rating (unless otherwise indicated):
	Aa1	489	–
	Aa2	693	1 051
	Aa3	65	27
	A1	–	1 063
	A2	857	970
	A3	1 323	1 475
	AAA/V1 (Fitch credit rating)	400	463
	Cash on hand	–	1
		3 827	5 050

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17.