Zak Calisto, the visionary founder and CEO of Karooooo Limited, has officially entered Africa’s dollar billionaire club.
This follows a remarkable valuation of $1.74 billion (approximately R30 billion) for his company. Karooooo.
ZAK CALISTO, SOUTH AFRICA’S NEWEST BILLIONAIRE
The company owns the leading vehicle-tracking firm Cartrack and has reported a significant 20% growth in revenue to $139 million (R2.4 billion) for the half-year ending August 2025.
This cemented its status as one of South Africa’s fastest-growing tech companies, according to Business Insider.
Karooooo’s business model strongly relies on subscription services, which now account for 98% of its revenue.
ZAK CALISTO’S WEALTH
The subscriber base expanded by 15% to 2.4 million users, reflecting increasing demand in Africa and emerging business markets.
The company’s profit rose 17% to R517 million, while operating profit grew by 18% to R708 million, signalling robust financial health amid substantial expansion efforts.
Zak Calisto’s achievement highlights the growing strength of local technology enterprises in the global market.
KAROOOOO’S SUCCESS
Karooooo’s business success demonstrates how innovative South African companies can exploit digital transformation trends.
This provides essential services such as telematics and logistics to customers across the continent.
The firm’s investment in AI-driven platforms and digital mobility solutions shows a commitment to future-proofing its operations.
EFFICIENCY AND SAFETY
It capitalises on increasing demand for efficiency and safety in physical operations, according to Business Tech.
Despite rising costs in infrastructure and marketing, sales and marketing expenses jumped by 32% to R390 million.
Karooooo continues to scale sustainably under Calisto’s leadership.
HOMEGROWN BILLIONAIRES
Calisto also recently sold $75 million (R1.3 billion) worth of shares, reducing his ownership stake but retaining a majority share valued around R17 billion.
This financial move positions him well to fuel Karooooo’s ongoing expansion across Africa and beyond.
Zak Calisto’s rise is a testament to South Africa’s emerging tech ecosystem, offering hope for more homegrown billionaires who drive economic growth.
The company’s positive financials and visionary leadership underpin confidence in sustained growth, important in a continent poised for rapid digital advancement.
