Zak Calisto, the founder and CEO of Karooooo, the parent company of Cartrack, has officially joined Africa’s billionaire ranks following a significant surge in the company’s valuation. As of October 2025, Karooooo is valued at $1.74 billion, propelled by a 20% increase in revenue to $139 million for the half-year ending August 31, 2025. This growth is largely attributed to a 15% rise in Cartrack’s subscriber base, now totaling 2.4 million, with subscription services accounting for 98% of the company’s revenue.
Calisto’s majority stake in Karooooo has solidified his position as a dollar billionaire, even after a partial share sale. The company’s expansion into AI-driven solutions and its growing presence in emerging markets underscore its commitment to long-term growth and innovation in the fleet management sector.
Despite rising operational costs, Karooooo’s strategic investments in infrastructure and market expansion have positioned the company for sustained success. With a strong balance sheet and a focus on digitization and operational efficiency, Karooooo continues to meet the increasing demand for advanced mobility solutions across Africa and beyond.