Grace Ene
Following the resignation of its co-founder, Obi Ozor, to take on the position of commissioner of transportation in Enugu State, Kobo360, a Nigerian logistics startup, has announced the appointment of a new CEO, Cikü Mugambi. Ozor’s replacement was announced by the company’s Board of Directors. Mugambi, the COO, was named.
After working for IFC (International Finance Corporation), Next Billion Growth, and KPMG, Mugambi joined Kobo360 in 2021. “Powering a complex and challenging supply chain and using technology to scale inter-regional trade is a long-term generational mission. This is what Kobo360 set out to achieve when it launched six years ago, and I am honored to be tasked with continuing the company’s journey,” Cikü Mugambi said in a statement regarding her appointment. Obi has been a strong spokesperson for the business, and we appreciate all of his effort and inspiring work.
The company also appointed Fola Adeola, the co-founder of Guaranty Trust Bank, as the new Chairman of the Board of Directors. “As an early backer of Kobo360, I am excited to work even more closely with the Board, Cikü, Ayo and the entire team, to continue to build an African technology company that powers our continent’s trade. The company is at an inflection point and has made significant progress on its journey to profitability. This is a significant platform on which we plan to grow and scale even further,” Fola Adeola said of his appointment.
Over 30,000 trucks and 700 customers have joined the platform since Kobo360’s launch in 2017, serving customers in 8 African markets. The business asserts that it moved more than 9 billion kg of cargo and produced more than 150,000 jobs directly and indirectly. It continues by mentioning the strategic alliances and integrations it has established with regional OEMs, commercial banks, and insurance firms, including, among others, Flour Mills of Nigeria, Unilever, CimIvoire, Kasapreko, One Acre Fund, United Bank of Africa, Fidelity Bank, and Tangerine Insurance.
Obi Ozor, the departing CEO, stated, “My big vision for Kobo360 was always to make a difference in the lives of many through entrepreneurial innovation, business, and economic impact. I’m confident that we’ve made significant progress toward achieving this goal with the help of my seasoned leadership team and Board, and the work will continue now that Cikü, Ayo, and Mr. Fola Adeola are firmly established in their new positions. Despite the fact that my relationship with Kobo360 is evolving, I am still fully committed to its success”
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