Follow Us on Google
By Steve Agbota
In the face of a tumultuous year in the transportation industry, Treepz, Africa’s leading shared mobility platform, stands tall as it releases its resilient 2023 year in review report, showcasing its resilience, growth and transformative impact.
Co-Founder & CEO, Treepz, Onyeka Akumah, in a recent zoom meeting highlited the firm’s 2023 report – achievements and milestone, as well as 2024 projections and prospects.
According to him, the year 2023 posed significant challenges in the transportation industry, particularly in Africa, with frequent petrol price hikes impacting the movement of people.
“However, despite these challenges, we navigated through the complexities and emerged at the end of the calendar year as a stronger industry player than ever before,” he said.
On the firm’s expansion drive, he explained that what began as a simple vision to solve the transportation challenges in Lagos, Nigeria with technology, Treepz evolved into a global phenomenon, providing better transportation solutions for more than 4 million customers across six countries and three continents.
According to him, Treepz expansion beyond Nigeria is a testament to the scalability and effectiveness of the company’s platform in meeting the diverse needs of users globally.
“Earlier in the year, we expanded our footprints to East Africa with the launch of Treepz in Kenya. This strategic expansion marked a significant stride in expanding the company’s presence in East Africa, enhancing accessibility and tailoring transportation solutions to diverse commitments.
“We also solidified our foundation for long-term sustained growth and governance by appointing 5 reputable professionals to our board of directors. They include Ebenezer Arthur, Managing Partner of Wangara Capital Partners and Managing Director of Wangara Green Ventures, who bring 18 years of experience in sales, transportation, and technology, focusing on impact investing.
“Adejare Rasheed Olaoluwa, former CEO of the Bank of Industry in Nigeria, offers strategic management and financial expertise. Laura Venasse, a Partner at LaBarge Weinstein, brings her legal and business acumen to provide governance oversight. Jane Egerton-Idehen, Chair of the Board, is an experienced Fortune 500 technology executive with a telecommunications background, promising valuable insights for Treepz’s strategic direction,” he said.
Sharing insights on their financial milestones and self-sustainability, Akumah said one of the pivotal achievements in 2023 was the attainment of financial milestones, with revenues for both Nigeria and Kenya reaching the break-even point.
“This marked a crucial step toward achieving a 100 per cent self-sustaining position for Treepz. The financial stability achieved in 70 per cent of all markets, including our home base in Nigeria and the newly launched Kenya operations, positions Treepz for sustained growth and resilience in the dynamic landscape of shared mobility.
“Moreover, in less than a year since the launch of Treepz’s marketplace in 2023, our platform generated over $1.2 million in earnings for our hosts (vehicle owners), demonstrating our commitment to uplifting and empowering lives and livelihoods across the globe economically,” he said.
“A total of 1,2960,611 passenger trips were facilitated and completed in 2023, seamlessly connecting people across cities. In 2023 alone, we also added 6 new cities to our platform, increasing Treepz’s footprints to 16 cities, across 3 regions worldwide.
“668 vehicles were onboarded on the Treepz marketplace within 8 months, to offer wide transportation options for our diverse user base. Customers across the continent have used Treepz technology to commute better over 4 million times since launch.
“As Treepz looks ahead to 2024, the focus is crystal clear—centred on the customer and the bottom line. The year will witness us sharing brand stories better through customer experiences, with milestones set for Treepz’s 5th year in business by Q4 2024.
“Ajoke Yusuf and Sani Chanchangi’s appointments align with this forward-looking vision, contributing to Treepz’s commitment to innovation, customer satisfaction, and continued success,” he said.
