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This surge highlights Calisto’s influence in South Africa’s tech sector, underscoring his role in shaping Karooooo’s path forward as a top provider of intelligent transportation solutions.
Amid the recent market volatility, the market value of Calisto’s stake has dropped significantly by $34.52 million, falling from $609.57 million on March 21 to $575.05 million.
This rise comes on the heels of a significant setback, where Calisto experienced a $26.41-million loss between Feb. 12 and Feb. 23.
Calisto, who founded Karooooo in 2001 to provide stolen car recovery services in South Africa, holds a 74.73-percent stake in the company.
The repurchase program is seen as a strategic move to boost shareholder returns while ensuring financial flexibility.
With a stake of 74.7 percent in Karooooo, valued at more than $580 million, Calisto stands among Africa’s top tech entrepreneurs.
This reaffirms his position as one of Africa’s wealthiest technology entrepreneurs — it also highlights Karooooo’s position as a top-performing tech firm.
South African tech magnate Zak Calisto ranks as one of the top figures in Africa’s tech industry.
With a market value of more than $600 million from his 74.73-percent shareholding in Karooooo, Calisto is one of Africa’s wealthiest technology entrepreneurs.
Calisto, who founded Karooooo in 2001 to provide stolen car recovery services in South Africa, holds a 74.73-percent stake in the company.
Karooooo, which Calisto controls, owns Carzuka, a leading digital marketplace for used vehicles.
The recent surge in Calisto’s stake is noteworthy, considering he suffered a substantial loss of $18.71 million between Aug. 1 and 21.
Calisto, who founded Karooooo in 2001 to provide stolen car recovery services in South Africa, holds a 74.73-percent stake in the company.
South Africa’s tech ecosystem has witnessed a paradigm shift thanks to a league of pioneering tech entrepreneurs and visionaries
As a result of the recent surge in the company’s shares, the value of Calisto’s stake in Karooooo has increased from $543.7 million to $584.6 million.
Under Calisto’s leadership, Karooooo Limited has become a leading provider of intelligent transportation management and analytics.