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Founders of Kobo360 Selected as Endeavor Entrepreneurs

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Endeavor, world’s leading high-impact entrepreneurship movement firm has welcomed two new entrepreneurs into its global network.

Obi Ozor and Ife Oyedele II, co-founders of Kobo360, were selected as Endeavor Entrepreneurs on May 21, 2020.

Kobo360 is a digital logistics platform that uses big data and agile technology to reduce friction and improve efficiency in the African logistics ecosystem.

Endeavor is a mission-oriented organisation that is leading the global movement for high-impact entrepreneurship.

By helping entrepreneurs behind some of the world’s most exciting scale-up companies accelerate their companies’ growth, and by contributing to building strong entrepreneurship ecosystems in underserved markets like Nigeria, Endeavor is driving economic growth through entrepreneurship.

Earlier this year, Endeavor also welcomed Daystar Power (a renewable energy company based in Nigeria and Ghana) and Migo (a financial technology platform operating in Nigeria and Brazil) into its network.

Logistics in Nigeria continues to be a challenge. For many businesses, finding the proper truck operators for cargo is difficult and inefficient as they spend days negotiating with brokers, searching for trusted truck drivers, and pursuing updates on delivery.

Kobo360 is solving this challenge for businesses by using its digital platform to match cargo-owners with truck owners, while providing real-time updates throughout the entire delivery process.

The company also offers value-added services such as trip-financing, discounts on diesel, and insurance.

Eloho Gihan-Mbelu, managing director & CEO, Endeavor in Nigeria, speaking about the selection said, “We’re excited to welcome Kobo360 into Endeavor’s network which includes some of the world’s most exciting scale-up entrepreneurs and most experienced mentors and investors.

“Fixing Africa’s supply chain is clearly important for commerce on the continent, and Kobo360’s rapid growth over the past 3 years is evidence that the company’s valuable services are in critical demand.

“Obi and Ife are inspiring founders and their relentless focus on scaling Kobo360 serves as an inspiration to high-impact entrepreneurs everywhere”.

Kobo360 since launching in 2017 has surpassed several milestones, including a $30 million Series A in August 2019.

Obi Ozor, co-founder & CEO of Kobo360, said “It’s an honour to be joining this global network of high-impact entrepreneurs and to have Endeavor recognise our efforts to transform Africa’s logistics sector using technology.

“As entrepreneurs, we wanted to turn African problems into African opportunities.

“Focusing on logistics, Ife and I started Kobo360 to not only fix the inefficiencies that exist, but to build opportunities for the businesses we serve and most importantly, the hundreds of thousands of truck drivers across Africa.

“This is a fundamental milestone in Kobo360’s journey; our Global Logistics Operating System [GLOS] will revolutionize supply chain across emerging markets and with Endeavor’s support, we’re able to make invaluable global connections that could be leveraged for our expansion and growth”.

Obi Ozor and Ife Oyedele II were successfully selected as part of a cohort of 10 entrepreneurs from five markets.

With the recent addition of Kobo360, Endeavor Nigeria supports now 16 entrepreneurs who lead 10 scale-up stage companies in Nigeria, spanning fintech, renewable energy, entertainment, logistics and retail.

 

 

 

 

 


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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FG Plans EO to Criminalise Fiber Cable Damage Costing Telcos Billions

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Nigeria will criminalize the destruction of broadband fiber cables following repeated complaints by MTN Nigeria Communications Plc and other telecommunications companies that they are losing billions of naira, according to people familiar with the matter.

FG Plans EO to Criminalise Fiber Cable Damage Costing Telcos Billions

Federal ministry of works, which supervises federal road constructors, is finalizing the regulation that will be signed as an executive order by President Bola Tinubu, said the people, asking not to be identified as they weren’t authorized to comment.

While there are presently laws against vandalism, the authorities are aiming to regulate construction firms more closely.

The order will enforce stiff penalties on offenders, said the people, declining to provide more details or say when it will be signed.

“Telecom assets are critical backbone that supports the economy across sectors,” said Temitope Ajayi, a senior presidential aide, who noted that the Association of Telecommunications Companies (ATCON) has been demanding the classification for years.

New rules will provide “further assurance that the Nigerian government will protect their investments against vandals and criminal elements.”

The Nigerian Communications Commission (NCC) estimates that the sector will make up more than a fifth of the country’s gross domestic product by the end of 2027, up from 13.5% in the third quarter of last year.

The move will help alleviate pressure on the telecoms sector, which is facing increased operating costs and sales pressures from a sharp depreciation in the currency and a threefold increase in energy prices.

Repairs and revenue losses from damaged cables is estimated to have cost the sector almost 27 billion naira ($23 million) last year alone, documents seen by Bloomberg show.

MTN Nigeria, the biggest wireless operator in Africa’s most-populous nation, and Airtel Africa Plc bore the brunt of the costs, the documents show.

MTN suffered more than 6,000 cuts on its fiber cable last year, the documents show. On Feb. 28, a cut on its network in three different locations by a road construction firm, an oil serving company and someone burning rubbish in a manhole meant customers faced more than five hours of data and voice outages.

The operator relocated 2,500 kilometers (1,553 miles) of vulnerable fiber cables between 2022 and 2023, at a cost of more than 11 billion naira – enough to build 870 kilometers of new fiber lines to areas without coverage.

A presidential order on the matter would be welcomed, said Tony Izuagbe Emoekpere, president, Association of Telecommunications Companies of Nigeria.

“When it comes to communication infrastructure, they are destroyed at will, so we are eagerly awaiting the president’s order,” he said. “It would be a great boost to the industry, and it will also encourage investment.”

 

 


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Telegram Eyes 1Bn Users amidst Political Pressures

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Telegram, the messaging giant founded by Pavel Durov and headquartered in Dubai, anticipates hitting a remarkable milestone of one billion active monthly users within the next year.

Durov’s departure from Russia in 2014, prompted by governmental pressures to stifle opposition communities on his VK social media platform, underscores Telegram’s commitment to neutrality despite geopolitical challenges.

With 900 million active users currently, Telegram stands as a beacon of free speech in the digital realm, particularly influential in former Soviet Union republics and pivotal during conflicts like the Russia-Ukraine standoff.

Durov’s staunch advocacy for freedom of expression and opposition to censorship by tech giants like Apple and Google reinforces Telegram’s status as a neutral platform.

Opting for the UAE as its base, Durov cites its neutrality and openness as conducive to Telegram’s ethos, serving both opposition groups and governments alike while maintaining impartiality.

In Durov’s vision, the pursuit of freedom eclipses material gain, shaping Telegram’s trajectory as a bastion of digital liberation.

 

 


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NITDA, NIMC Announce Collaboration To Strengthen Digital Economy

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To further strengthen Nigeria’s digital economy in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda, the National Information Technology Development Agency (NITDA) and National Identity Management Commission (NIMC) have announced a collaboration on National Public Key Infrastructure (PKI) and Digital Public Infrastructure (DPI) to enhance and create synergy between digital identity, payment ecosystem, and secure & seemless data exchange capabilities for Nigeria.

During the meeting between the Director-General of NITDA, Kashifu Inuwa Abdullahi, and Director General of NIMC, Engr. Bisoye Coker-Odusote, with some management staff of both organisations, they discussed various initiatives, which include building DPI stacks for a secured and seamless data exchange and forming partnerships to transform the national identity system.

This collaboration also aims to harness the potential of the innovative ecosystem and emphasise the use of Public Key Infrastructure (PKI) to drive digital transformation in Nigeria.

To ensure a smooth implementation, a 12-man committee was set up. This committee will play a crucial role in kickstarting and harmonising the initiatives. It is expected to deliver a comprehensive implementation report within the next 4 weeks


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