Kobo360, a Nigerian logistics firm, has appointed a new CEO, Cikü Mugambi, after its co-founder, Obi Ozor, stepped down to serve as Enugu State Commissioner of Transportation.
Ozor’s replacement was announced by the company’s Board of Directors in a statement that TechCabal received. Mugambi, the COO, was named.
After working at IFC (International Finance Corporation), Next Billion Growth, and KPMG, Mugambi joined Kobo360 in 2021.
Cikü Mugambi discussed her appointment as follows: “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. Obi has been a powerful advocate for the company, and we thank him for his hard work and visionary mission”.
Fola Adeola, a co-founder of Guaranty Trust Bank, was additionally chosen by the organization to serve as the new chairman of the board of directors.
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“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 inception in 2017, serving customers in 8 African nations.
The business asserts that it moved more than 9 billion kg of cargo and produced more than 150,000 employees directly and indirectly.
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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, said: “My big vision for Kobo360 was always to make an impact on the lives of many through entrepreneurial innovation, business and economic impact.”
“Alongside my experienced leadership team and Board, I know that we’ve made great strides in achieving this and the work is set to continue, with Cikü, Ayo and Mr. Fola Adeola now firmly in their new roles. My journey with Kobo360 may be changing, but my commitment to its success remains unwavering.”