Logistics startup, Kobo360, has announced the appointment of Cikü Mugambi as its new CEO, replacing founder, Obi Ozor. Ozor was recently appointed a commissioner of transport in Enugu State, prompting his replacement as CEO and Board chair.
Mugambi joined Kobo360 in 2021 as Chief of Staff and Investor Relations, with over a decade of experience at the International Finance Corporation and KPMG. She'll be assisted in her new role by Ayo Fashina as COO.
"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," Mugambi shared in a statement.
Fola Adeola, the co-founder and former CEO of Guaranty Trust Bank, has also been named chairman of the board of directors.
Founded in 2018, Kobo360 provides a platform that connects businesses with trucks for the efficient movement of products. The startup has since grown beyond its Nigerian roots with operations in Kenya, Ghana, Uganda, Côte d'Ivoire, and Burkina Faso.
It has also worked with more than 30,000 trucks and 700 businesses and counts the International Finance Corporation, Y Combinator, TLcom Capital Partners, and Goldman Sachs as investors.
"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," Ozor said about his exit.