When Zak Calisto founded Cartrack in 2001, his mission was clear but modest: help South Africans recover stolen vehicles in a country plagued by carjackings.
Fast forward two decades, and that mission has evolved into a billion-dollar tech empire—Karooooo Ltd.—a global cloud-based mobility platform that now positions Calisto among South Africa’s most elite: a newly minted dollar billionaire.
This is not just a success story—it’s a transformation saga.
Born of Necessity, Built on Vision
The early 2000s were turbulent years for motorists in South Africa. Car theft was rampant, and recovery rates were dismal.
Calisto, driven by the urgency of the problem and a background in electrical engineering, launched Cartrack with a bold promise: to use technology to trace and recover stolen vehicles in real time.
His solution was both practical and revolutionary—a GPS-based vehicle tracking service that delivered fast results and high recovery rates.
Within a few years, Cartrack became a trusted name across the country. But for Calisto, solving one problem was only the beginning.
From GPS to Global
Calisto saw what others didn’t: that vehicle tracking was just the tip of the data iceberg. Behind every moving asset was a stream of information waiting to be optimized—fuel usage, driver behavior, route efficiency, and maintenance cycles.
He rebranded the company as Karooooo Ltd., taking it public and expanding into over 23 countries.
Today, Karooooo provides cloud-based fleet and mobility management to enterprises across Africa, Asia, Europe, and the Middle East, with a client base that spans logistics firms, utilities, and governments.
With its platform running on real-time analytics and predictive algorithms, Karooooo has become a quiet but powerful player in the global telematics space.
A Stock Surge and a Status Shift
Karooooo’s share price has surged in 2025, recently hitting a record high of R980.00. With Calisto holding over 64.81% of the company—equivalent to more than 20 million shares—his net worth has officially crossed the $1 billion mark.
That leap places him among South Africa’s financial royalty, alongside names like Johann Rupert and Nicky Oppenheimer.
But unlike many of his billionaire peers, Calisto built his fortune not on diamonds or retail, but on data, discipline, and digital infrastructure.
A Tech Pioneer With African Roots
What makes Calisto’s rise particularly noteworthy is its context. Africa’s tech scene has long been overlooked, often overshadowed by Silicon Valley. But Karooooo’s quiet dominance challenges that narrative.
While many startups chase valuations through hype, Calisto built his company around fundamentals: profitability, product reliability, and long-term contracts. His is a story of deep tech, not just fintech—and it positions Africa as a contributor, not just a consumer, of global technology.
“We don’t chase trends. We build solutions,” Calisto once remarked. “That’s what creates lasting value.”
What’s Next?
With Karooooo’s growth trajectory showing no signs of slowing, analysts believe the company could become a blueprint for other African tech firms aiming to scale globally.
The focus now shifts to AI-driven mobility, smarter cities, and integrations with electric vehicle infrastructure. And with Calisto still at the helm, Karooooo seems poised to lead the charge.
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