Wall Street analysts bullish on Karooooo, Cartrack owner, as it turbocharges growth. Listen to CEO Zak Calisto

Loading player...
Global analysts expect massive growth in the vehicle tracking industry in the next five years, with a major market report noting that investors haven’t yet cottoned on to the huge growth in this sector - partly because they don’t understand it. This week, excitement among Wall Street analysts was palpable at a presentation by Karooooo CEO and founder Zak Calisto, his first after the company listed on the Nasdaq last month. Smarteranalyst.com reports that Karooooo is tipped as a 'strong buy' among top analysts in the United States. Karooooo, which owns Cartrack, is a South African business success story, adding about 60% new subscribers in the fourth quarter to February 28 2021. In this interview with Jackie Cameron of BizNews, Calisto shares why the company is confident it is going to continue to scale up and grab market share across the globe. South African tech entrepreneur Calisto was speaking to Cameron from his headquarters in Singapore. Karooooo has a secondary listing on the Johannesburg stock exchange. Learn more about your ad choices. Visit megaphone.fm/adchoices
7 May 2021 4AM English South Africa Investing · Business News

Other recent episodes

Criminalising corporate silence with Wendy Addison

South Africa's first high-profile whistleblower Wendy Addison is done talking shop. She's raised a criminal docket against a corporation and its directors for silencing two financial industry whistleblowers — and she thinks it could be a watershed moment. Can personal criminal accountability finally give whistleblower protection real teeth?
29 Jun 6AM 23 min

BN Daybreak: Strait of Hormuz showdown as US and Iran head back to Doha

Vessels are still threading the Strait of Hormuz, but a Bloomberg analyst calls it Schrodinger's Strait: you never know if it's open until you try to get through. With traffic down to a fraction of normal and ships taking hits, owners are weighing whether the world's most vital oil route…
29 Jun 12AM 15 min

The BizNews Edge: African Bank's Billion-Rand Acquisition Trap

African Bank swung to a loss of nearly a billion rand after a four-year spree of buying and bolting together three banks to build a full-service lender, and the bad debt charge is still climbing. The contrast is brutal: a focused platinum-and-chrome miner, Tharisa, is printing cash with profit up…
25 Jun 7AM 9 min