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Directors' statement of responsibility

for the year ended 31 March 2014

The directors are responsible for the preparation, integrity and fair presentation of the annual financial statements and group annual financial statements of WelkomYizani Investments (RF) Limited.The group annual financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) and in the manner required by the Companies Act of South Africa, and include amounts based on judgements and estimates made by management.

The directors consider that, in preparing the financial statements of the group, they have used the most appropriate accounting policies, consistently applied and supported by reasonable prudent judgements and estimates, and that all IFRS that they consider to be applicable, have been followed.The financial statements fairly present the results of operations for the year and the financial position of the group and company at year-end in accordance with IFRS.The annual financial statements are prepared by Leandra Louw and supervised by Alwaan Sharief, a chartered accountant (SA) in his capacity as senior financial manager.

The directors have the responsibility for ensuring that accounting records are kept.The accounting records should disclose, with reasonable accuracy, the financial position and results of the company to enable the directors to ensure that the annual financial statements comply with the relevant legislation.

The company operates in an established control environment, which is documented and regularly reviewed.This incorporates risk management and internal control procedures, which are designed to provide reasonable, but not absolute, assurance that assets are safeguarded and the risks facing the business are being controlled. Nothing has come to the attention of the directors to indicate that any material breakdown in the functioning of these controls, procedures and systems has occurred during the period under review.

The going-concern basis has been adopted in preparing the annual financial statements.The directors have no reason to believe that the group and company will not be going concerns in the foreseeable future, based on forecasts and available cash resources.These annual financial statements support the viability of the group and company.

The annual financial statements have been audited by the independent auditor, PricewaterhouseCoopers Inc., who was given unrestricted access to all financial records and related data, including minutes of all meetings of shareholders, the board of directors and committees of the board.The directors believe that all representations made to the independent auditor during its audit are valid and appropriate.

The audit report of PricewaterhouseCoopers Inc. is presented here.

The annual financial statements were approved by the board of directors and are signed on its behalf by:

R C C Jafta P O Goldhawk
Chair Director

12 June 2014