Zak Calisto, the South African-born founder and Group CEO of Nasdaq- and JSE-listed tech company Karooooo, is setting the pace for global innovation, with operations spanning 23 countries and more than 2.13 million subscribers. The company, headquartered in Singapore, has grown from its roots in vehicle tracking to become a cutting-edge Software-as-a-Service (SaaS) platform delivering real-time data analytics and operational intelligence to businesses worldwide.
Karooooo, best known for its flagship subsidiary Cartrack, boasts a market capitalization of approximately $1.22 billion. But it’s not just the numbers that stand out—Calisto’s unwavering focus on innovation and early adoption of artificial intelligence (AI) has helped position the business as a global leader in telematics and fleet management.
“We’ve been doing AI for over a decade. Innovation is survival—if we stand still, we die,” Calisto told Forbes Africa. “We continuously evolve our platforms, and today, I believe we have one of the most comprehensive operational platforms in the industry.”
Founded in South Africa in 2001, Cartrack initially set out to combat vehicle theft and telemetry issues but pivoted to meet commercial clients’ growing appetite for data and fleet management tools. By 2007, it became the first South African company to host its solutions on the cloud—a move that gave it a significant edge.
Now operating across Africa, Asia Pacific, the Middle East, the United States, and Europe, Karooooo continues to scale rapidly. In South Africa alone, Cartrack’s subscriber base rose 16% to 1.6 million by August 2024, contributing to overall growth in subscription revenue by 15%.
The company’s new Johannesburg office—able to accommodate 3,500 employees—signals both confidence and capacity for further expansion. “In all the markets we’re in, the potential for growth is huge. It’s just about our ability to onboard more business,” Calisto said.
Calisto’s entrepreneurial journey is as compelling as the company he leads. A university dropout, he studied Mathematics, Statistics, and Actuarial Science before joining Standard Bank’s accelerated training program in the late ’80s. Despite early challenges, including funding difficulties, Calisto convinced telecom networks to partner with Cartrack—a move he credits as crucial to their early success.
A key takeaway from his leadership style? Focus on culture, agility, and decisive management. “You can make mistakes,” he says, “as long as you fix them quickly.”
Karooooo’s quirky name even tells a story of creative thinking under pressure. When the original domain name for his Singapore-based holding company wasn’t available, Calisto simply added more zeros—literally—resulting in the now-iconic Karooooo brand.
As Calisto leads the company into new markets and technologies, his journey offers a blueprint for African entrepreneurs looking to scale with purpose and innovation on a global stage.
