In 2016, Nigerian entrepreneur Obi Ozor and his co-founder Ife Oyedele launched Kobo360, an innovative e-logistics platform that connects truck owners with businesses in need of cargo transport services. The concept, an “Uber for trucks,” was met with skepticism. “People thought we were mad,” recalls Ozor, reflecting on the early struggles that defined Kobo360’s foundation. Despite these doubts, Kobo360 has grown into a formidable logistics solution in Africa, overcoming significant challenges to revolutionize the continent’s supply chain industry.
Kobo360’s early days were far from glamorous. Ozor and Oyedele spent months traveling the toughest logistics routes across Nigeria, facing obstacles such as poor infrastructure, militant activity, and even police extortion. In some cases, they lost as much as 30,000 naira ($77) per trip to ensure the safe passage of goods. Their perseverance paid off when they started securing contracts with major companies, but it wasn’t an easy journey. Insurers, too, were convinced the startup would fail, doubting their ability to safely transport customer goods. However, Ozor and Oyedele were driven by a shared belief that solving these logistical inefficiencies could unlock massive economic potential.
In 2017, Kobo360 had its big break when they delivered multiple truckloads on the notoriously dangerous Lagos–Maiduguri route, winning a critical contract from Nigerian conglomerate Honeywell. This victory was a turning point for the company, proving that their model could thrive even in the most challenging environments. Ozor made a bold move in 2018 by relocating his entire family to northern Nigeria, where 82% of the country’s truck owners and drivers are based. This strategic decision helped Kobo360 build essential relationships with the trucking community, allowing the company to grow its network and meet the increasing demand from clients.
By 2020, the company had expanded into six countries across Africa, raising $30 million in funding from major investors, including Goldman Sachs and TLcom Capital. Kobo360 has consistently found innovative ways to optimize logistics. In 2018, the company introduced the use of barges to bring trucks into congested ports, a solution that significantly reduced wait times for fleet owners. Additionally, Kobo360 focused on reverse logistics to lower transportation costs by ensuring trucks were loaded both ways, benefiting small and medium enterprises (SMEs) and farmers, who now make up 27% of the company’s clientele.
The company has also ventured into fintech with the launch of KoPAY, a lending platform that allows truck drivers and owners to receive immediate payments for their services. This solution, which started in 2020, has quickly become a vital revenue stream for the business and is expected to significantly contribute to its growth. Looking ahead, Ozor aims to expand Kobo360 into the Middle East and scale the company into a $2 billion enterprise. With plans to retire at 40 and possibly enter politics, his vision extends beyond logistics, driven by a commitment to solving the inefficiencies that hold back Nigeria and the African continent.
