Nigerian e-logistics start-up Kobo360 has made its first physical expansion into East Africa by opening offices in Kenya and Uganda.
Kenya through the port of Mombasa is a gateway to other East African countries such as Uganda, Rwanda, Burundi, DRC, and Southern Sudan. Kobo360 has been in Kenya for 5 months since March, with access to over 3000 trucks and truck owners.
In addition, Kobo360 sees an opportunity for growth in Kenya due to a high technology adoption rate. Furthermore, Kobo360 wants a piece of the 13 million tonnes of cargo handled at the port of Mombasa that also has a direct connection to over 80 ports worldwide.
Kobo360 launched in 2017 in Lagos, Nigeria and has operations in Togo and Ghana. The logistics firm connects end-to-end haulage operations to help cargo owners, truck owners, and drivers, and cargo recipient achieves efficient logistics services.
Kobo360 is leveraging technology; a combination of the Internet of Things (IoT), mobile technology, and data analytics to offer convenient logistics solutions. Moreover, services are accessible via web and app where there is guaranteed delivery as clients can track their shipment.
Moreover, Kobo360 has a strong financial backing as it recently raised $30M from Goldman Sachs in series A fundraising. Local investors include Chandaria Capital, Y Combinator, TLcom Capital, WTI, and International Finance Corporation (IFC).
Speaking at the launch, Kobo Africa CEO Kagure Wamunyu cited the AfCTA agreement as a key driver in logistics expansion. The Logistics value chain in Africa is currently valued at $150 billion.
Kenyan Logistics partners include Bidco Africa, Union Logistics limited, and Intraspeed ARCPRO Kenya LTD.
Kobo360 said its services would lead to a 20 percent reduction in logistics costs by matching the user’s request with a selection of quality trucks of all categories within 6 hours.
