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Currency Conversion Announcement
CAFCA LIMITED
Incorporated in terms of the laws of Zimbabwe
(Zimbabwe Registration number: 401/1945)
Share code: CAC
ISIN: ZW0009011942
("CAFCA" or "the Company")
CURRENCY CONVERSION ANNOUNCEMENT
Shareholders are referred to the announcement released on the Zimbabwean
Stock Exchange ("ZSE") and the Johannesburg Stock Exchange ("JSE") on
21 November 2025 relating to the declaration by the Board of a final
dividend of US2.80 cents per share for the year ended 30 September 2025
payable to shareholders.
In respect of shareholders registered on the ZSE:
The dividend net of Zimbabwe withholding tax of 10% shall be USD2.52
cents per share.
In respect of shareholders registered on the JSE:
• the dividend shall be paid in Rand to shareholders on the South
African register, calculated at the United States dollar("USD")to
South African Rand ("ZAR") exchange rate of USD 1 / ZAR16.95 as at
Monday, 8 December 2025, and accordingly the gross dividend payable
to such shareholders is ZAR47.46 cents per share. The dividend has
been declared from income reserves and is a foreign dividend in
respect of South African resident shareholders.
The following information is provided to shareholders in respect
of dividend tax:
• The double tax agreement between South Africa and Zimbabwe is 10%.
As such, a South African shareholder that receives a dividend, which
is subject to South African dividend withholding tax (where no
exemption is in place) will qualify for a 10% rebate from SA Dividends
Tax, being the Zimbabwean Withholding Tax of 10%.
• The ultimate result is that the dividend will be subject to a reduced
withholding tax rate of 10% and subject to SA Dividends Tax rate of
10%.
• Dividends payable to non-exempt shareholders registered on the JSE
are subject to 20% withholding tax in accordance with the South
African Income Tax Act, unless varied in accordance with any relevant
Double Tax Agreement. The applicable South African withholding tax
is reduced by the amount of the Zimbabwe dividend withholding tax
deducted, resulting in a maximum withholding tax rate on dividends
of 20%, resulting in a net amount of ZAR37.968 cents per share.
• Withholding taxes on dividends payable to Zimbabwe residents, non-
exempt shareholders registered on the JSE, are restricted to 10% in
accordance with the Zimbabwe/South Africa Double Tax Agreement,
resulting in a net amount of ZAR42.714 cents per share.
• Shareholders must acknowledge that neither the Company nor its
advisors provide any specific tax advice in connection with this
notice. The Company makes no representations concerning the tax
consequences of this notice. Shareholders must consult with their
tax advisors concerning the tax consequences of this notice.
The Company has a primary listing on the ZSE and a secondary listing on
the JSE.
Zimbabwean Transfer Secretaries
First Transfer Secretaries (Pvt) Ltd
1 Armagh Avenue Eastlea
Harare
Email:info@fts-net.com
Telephone: +263 4 782869/72 or 776628/49/59/69/74
South African Transfer Secretaries Computershare Investor Services
Rosebank Towers
15 Biermann Avenue Rosebank, 2196 South Africa Tel: +27 11 688 5248
Email:Charmaine.Jacobs@computershare.co.za By order of Board
C Kangara
Company Secretary
8 December 2025
JSE SPONSOR
Merchantec Capital
Directors H.P Mkushi (Chairman) E.T.Z Chidzonga
T.Chigumbu L.Corte S.E Mangwengwende S.Maparura
J.Tapambgwa
Date: 08-12-2025 10:33:00
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