Days after its founding CEO Obi Ozor was appointed transport commissioner in Enugu, Nigerian logistics startup Kobo360 named current COO Ciku Mugambi the new CEO.
Kobo360, a Nigerian logistics startup, has announced the appointment of a new CEO, Cikü Mugambi, after its co-founder, Obi Ozor stepped down to serve as commissioner of transportation in Enugu State. In a statement shared with TechCabal, the company’s Board of Directors named Mugambi—the COO—as Ozor’s successor.
Mugambi joined Kobo360 in 2021 after stints at IFC (International Finance Corporation), Next Billion Growth and KPMG. Speaking on her appointment, Cikü Mugambi said, “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 honoured 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”.
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.
Since its launch in 2017, Kobo360 has served customers across 8 African markets, onboarded more than 30,000 trucks and 700 customers onto the platform. The company claims to have moved over 9 billion kg of goods and created over 150,000 direct and indirect jobs. It adds that it has secured strategic partnerships and integrations with local commercial banks, insurance companies and OEMs, including Flour Mills of Nigeria, Unilever, CimIvoire, Kasapreko, One Acre Fund, United Bank of Africa, Fidelity Bank and Tangerine Insurance, among others.
The outgoing CEO Obi Ozor 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.”
