Shares in South African tech companies Altron and Karooooo have climbed far more than those of other JSE tech companies in 2026, according to MyBroadband.
At market close on Tuesday, 3 November 2026, Altron’s share price was R27.91. That was 49% higher than at the start of the year. Karooooo shares closed at R1,065.45 on the same day, 41% up from R755.73 in January.
Over the same period, the JSE All-Share Index rose by about 6.5%, the report said.
The two companies compete in vehicle and asset tracking. Altron has owned Netstar since 1998. Karooooo started as Cartrack in 2001.
Altron has three divisions, called Platforms, IT Services and Distribution. Netstar sits in Platforms, along with Altron Fintech, Altron HealthTech and Altron Security.
MyBroadband said the Platforms division was the main reason for Altron’s strong year. Its services bring in regular monthly income with high margins, rather than once-off sales.
The IT Services division had struggled before but improved step by step over the past year. Part of this came from selling Altron Nexus, an industrial Internet of Things networking business.
Altron Nexus had cost the group heavily through large provisions and impairments. These included a R336 million provision after the loss of the Gauteng Broadband Network contract. There was also legal and operational exposure linked to a City of Tshwane tender.
The Distribution division has only one business, Altron Arrow, which has also performed well.
Altron’s profit after tax rose 32% to R816 million for the year ended February 2026. In the first six months of its 2027 financial year, it reported its best interim revenue and profit in three years.
The company paid an ordinary dividend of 72 cents per share in June 2026, which was 44% more than the year before. It also paid a special cash dividend of 120 cents per share.
Altron then declared an interim ordinary dividend of 55 cents per share for the 2027 half year. This was up 15% from the first half of its 2026 financial year.
Karooooo’s share price rise lifted its market value to R32.92 billion. That makes it the third most valuable tech company listed on the JSE.
Karooooo has fewer products than Altron, but more of its revenue comes from outside South Africa. Southeast Asia has been a strong region for the group, which moved its headquarters to Singapore in 2020.
Cartrack’s subscription revenue grew by 19% in the year ending 28 February 2026. Growth had been 15% in each of the two years before that.
In its last reported quarter, Cartrack’s subscription revenue was 20% higher than a year earlier. Operating profit reached a quarterly record of R422 million, up 19% from the same period in 2025.
The only listed tech company that has done better this year is Sebata Holdings, which joined the JSE in July 2026. MyBroadband said it is a small company with few investors, so its price can swing widely on only a few trades.
Source: this article is based on reporting by MyBroadband. Image: MyBroadband. Written with the help of AI and published by the Tzaneen Voice Technology desk. See our Editorial Standards.
Werner Jacobs covers technology for Tzaneen Voice. Werner reports on mobile networks, data prices, internet access, smartphones, apps, AI, cybersecurity and South African tech companies. Each story explains what a new product, price change or policy means for ordinary users in South Africa.