At a Glance
- Karooooo drives growth with $249.87 million in revenue and over 2.6 million global user base.
- Cartrack boosts Calisto’s fortune with smart mobility and growing subscription revenue.
- Carzuka and logistics units streamline vehicle sales and last-mile delivery operations.
Africa’s newest tech billionaire, Zak Calisto, is best known as the mastermind behind Karooooo Ltd., the Nasdaq-listed mobility SaaS company that owns Cartrack.
With a focus on real-time mobility data and smart transportation solutions, Calisto has built a tech empire spanning 25 countries and serving over 2.6 million users.
His entrepreneurial journey began in the 1990s with Vehicle Tracking Services, laying the groundwork for what would become a multibillion-rand enterprise.
Today, Calisto owns over 57 percent of Karooooo and recently launched a $75 million secondary public offering to expand the investor base and diversify his holdings. The Singapore-based mobility platform with dual-listing currently has a market valuation of R26.9 billion($1.49 billion).
Shore Africa explores five key businesses that helped propel Zak Calisto into the ranks of Africa’s wealthiest tech entrepreneurs.
- Karooooo
Revenue in 2025: R4.57 billion ($249.87 million)
Zak Calisto, a prominent South African entrepreneur, founded Karooooo Limited in 2001 with an initial focus on vehicle recovery services in South Africa.
Over the years, Karooooo has transformed into a global leader in smart transportation management solutions, serving clients in 25 countries across five continents and boasting a user base exceeding 1.4 million people worldwide. This Singapore-based mobility platform is dual-listed on the Nasdaq and the Johannesburg Stock Exchange, with Calisto as the majority shareholder, holding over 57-percent stake which has currently earned him the status of a billionaire. For the fiscal year ending Feb. 28, 2025, Karooooo reported an 8.6 percent rise in revenue to R4.57 billion ($249.87 million). Total assets rose from R4.31 billion ($237.57 million) to R5.08 billion ($278.08 million), while retained earnings grew 15.25 percent to R2.11 billion ($115.63 million).
- Cartrack Holdings
As a wholly-owned subsidiary of South Africa’s Karooooo, Cartrack offers cutting-edge real-time mobility data analytics solutions. Its offerings encompass smart transportation, driver behavior analysis, insurance risk assessment, safety features, and asset recovery. Established in 2004, Cartrack has organically expanded its operations to 25 countries, delivering data analytics, artificial intelligence, and value-added services under the astute guidance of Zak Calisto. In 2025, Cartrack’s subscription revenue grew by 15 percent to R4.06 billion ($221.82 million) from R3.52 billion ($192.65 million) in the corresponding year as Cartrack continues to build on its strong track record of growing at scale.
- Carzuka
Carzuka, a 100 percent owned enterprise, is a versatile platform that facilitates both physical and e-commerce vehicle buying and selling. Under the leadership of Zak Calisto, Karooooo is actively exploring the sale of Carzuka, with the aim of integrating a significant portion of its workforce into Cartrack. This strategic move will leverage the valuable components within Carzuka’s platform to enhance the existing Cartrack fleet platform while streamlining operating expenses.
- Karooooo Logistics
Karooooo Logistics is a subsidiary of Karooooo Limited that specializes in software applications for efficient last-mile delivery and general operational logistics. Under the leadership of Zak Calisto, Karooooo Limited holds a majority stake of 57 percent in Karooooo Logistics, formerly known as Picup Technologies in South Africa. It is renowned for providing real-time data analytics and business intelligence solutions, enhancing operational efficiency and logistics management.
- Cartrack Insurance Agency
Cartrack Insurance Agency, a subsidiary of Cartrack Holdings, has been a key player in the mobility insurance sector for over 15 years. The agency provides insurance telematics solutions, emergency services for car crashes, and vehicle recovery services in high-crime regions, such as South Africa. Their expertise has led to reduced insurance premiums and a proven track record in promoting safe driving practices.
