Billionaire Zak Calisto’s fleet tracking and mobility company, Cartrack, has surpassed two million active subscribers in South Africa, a landmark achievement that underscores the company’s dominance in its largest market. The milestone was announced on Tuesday, highlighting the rapid growth of a business that began over two decades ago as a vehicle recovery service.
Cartrack, a subsidiary of Singapore-headquartered Karooooo Limited listed on both Nasdaq and the Johannesburg Stock Exchange, employs more than 5,500 people in South Africa and has been operating in the country for 20 years. The two million-subscriber mark strengthens its lead over competitors and demonstrates the enduring demand for fleet management and tracking services across the country.
From Vehicle Recovery to Full-Fleet Solutions
Zak Calisto, Group CEO of Karooooo, said, “Reaching two million active subscribers is a remarkable achievement that reflects our leadership position, the strength of our business model and our dedication to the South African market. Demand for our technology platform has never been stronger, and we see a long runway for continued expansion as we deliver increasing value to our customers through our innovative products and service.”
Cartrack’s offerings have evolved significantly beyond its initial focus on stolen vehicle recovery. The platform now includes fleet maintenance, fuel management, driver behavior monitoring, workforce management, and logistics. Data analytics tools allow businesses to cut costs, reduce risks, and manage operations in real time. Subscription services generate the bulk of Karooooo’s revenue, providing a stable, recurring income that supports global expansion into more than 20 countries.
A Journey from Mozambique to Billionaire Status
Calisto, born in Portugal and raised in Mozambique before relocating to South Africa, launched Cartrack in the early 2000s after experiences in banking and telematics distribution. Over the years, he has built the company from scratch and now holds a controlling stake valued at over a billion dollars, placing him among South Africa’s elite dollar billionaires.
Globally, Karooooo serves more than 125,000 commercial customers and has surpassed 2.65 million active subscribers across all markets. While South Africa remains the anchor, the company is aggressively expanding into Southeast Asia, where subscription growth has been strong, and into Europe, where recent investments are beginning to yield results.
The two million subscribers in South Africa alone highlight the pressing market need for vehicle security, fleet efficiency, and road safety solutions. The milestone reflects Cartrack’s ability to address these challenges effectively, offering solutions that resonate with businesses and individuals alike.
With a solid foundation in South Africa and growing global influence, Karooooo is poised to continue leveraging its technology and subscription-based model to expand in emerging and established markets, strengthening its reputation as a leader in fleet tracking and mobility solutions.
