Page 100 - Learn Africa 2021 Annual Report

Learn Africa Plc
Notes to the Financial Statements (cont’d)

For the year ended 31 March 2021

The number of employees in Nigeria with gross emoluments within the bands stated were:

2021 2020
In Naira Number Number
200,001 - 650,000 149 -
650,001 - 700,000 4 1
700,001 - 750,000 5 10
750,001 - 800,000 1 3
800,001 - 900,000 - 83
900,001 - 1,000,000 1 2
1,000,001 - 1,100,000 - 27
1,100,001 - 1,200,000 - 16
1,200,001 - 1,300,000 - 8
1,300,001 - 1,400,000 - 2
1,400,001 - 1,500,000 4 16
1,500,001 - 2,000,000 - 17
2,000,001 - 3,500,000 2 8
3,500,001 - 5,500,000 - 4
Above 5,500,000 1 3
167 200

25 Financial risk management

Learn Africa Plc’s principal financial assets comprise trade and other receivables, cash and
short-term deposits that arise directly from its operations.

The Company’s principal financial liabilities comprise trade and other payables and
borrowings. The main purpose of these financial liabilities is to finance and provide
guarantee to support the Company’s operations.

Learn Africa Plc is exposed to credit risk, market risk and liquidity risk.
The Company’s senior management oversees the management of these risks. The
Company’s senior management is supported by a financial risk committee that advises on
financial risks and appropriate financial risk governance framework for the Company. The
financial risk committee provides assurance to the Company’s senior management that
the Company’s financial risk-taking activities are governed by appropriate policies and
procedures and that financial risks are identified, measured and managed in accordance
with Company policies.

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