Kobo360, a logistics startup, has revealed the selection of Cikü Mugambi as its new CEO, succeeding the founder, Obi Ozor. Ozor’s recent appointment as a transport commissioner in Enugu State led to his stepping down as CEO and Board chair.
Mugambi, who initially joined Kobo360 in 2021 as Chief of Staff and Investor Relations, brings a wealth of experience from her ten-year tenure at the International Finance Corporation and KPMG. Assisting her in her new capacity will be Ayo Fashina, who takes on the role of COO.
Mugambi expressed her enthusiasm for the new position, stating, “Kobo360 embarked on a profound and ambitious mission six years ago—to drive a sophisticated and intricate supply chain while leveraging technology to expand inter-regional trade. I am privileged to be entrusted with the responsibility of furthering the company’s journey.”
Additionally, Fola Adeola, the co-founder and former CEO of Guaranty Trust Bank, has been appointed as the 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.
