Company: KARO
Filing Date: 2025-06-09
Form Type: 20-F
Source: 0001213900-25-052372
Chunk: 191

Company: Karooooo Ltd.
Filing Date: 2025-06-09
Form: 20-F
Item: Item 19
Chunk 191
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 are adjusted to reflect the changes in their relative interests
in the subsidiary. Any difference between the amount by which the non-controlling interest is adjusted and the fair value of the consideration
paid or received is recognized directly in equity and attributed to owners of the Company.

b)
Foreign currency

i.
Functional and presentation currency

The financial statements are presented
in ZAR, which is the Group’s presentation currency. Each entity in the Group determines its own functional currency and items included
in the financial statements of each of entities are measured using the currency of the primary economic environment in which the entity
operates.

ii.
Transactions and balances

Transactions in foreign currencies
are measured in the respective functional currencies of the Company and its subsidiaries and are recorded on initial recognition in the
functional currencies at exchange rates approximating those ruling at the transaction dates. Monetary assets and liabilities denominated
in foreign currencies are translated at the rate of exchange ruling at the end of the reporting period. Non-monetary items that are measured
in terms of historical cost in a foreign currency are translated using the exchange rates as at the dates of the initial transactions.
Non-monetary items measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value
was measured.

Exchange differences arising on the settlement of monetary
items or on translating monetary items at the end of the reporting period are recognized in profit or loss.

F-13

iii.
Consolidated financial statements

For consolidation purpose, the assets
and liabilities of foreign operations are translated into ZAR at the rate of exchange ruling at the end of the reporting period and their
profit or loss are translated at the exchange rates prevailing at the date of the transactions. The exchange differences arising on the
translation are recognized in other comprehensive income. On disposal of a foreign operation, the component of other comprehensive income
relating to that particular foreign operation is recognized in profit or loss.

Exchange differences arising on monetary
items that form part of the Group’s net investment in foreign operations are recognized initially in other comprehensive income
and accumulated under foreign currency translation reserve in equity. The foreign currency translation reserve is reclassified from equity
to profit or loss of the Group on disposal of the foreign operation.

Monetary items cease to form part of
the net investment in the foreign operation at the moment in time when the Group decides that settlement is planned or is likely to occur
in the foreseeable future. Accordingly, exchange differences arising on these monetary items up to that date are recognized in other comprehensive