Treepz Car-Sharing Marketplace Welcomes New Board Members to Drive Strategic Growth

Treepz, a burgeoning car-sharing marketplace startup, has taken a significant step forward by appointing four accomplished individuals to its board. This move signals the pivotal role the board will play in shaping the company’s strategic trajectory and ensuring alignment with its core mission: optimizing the utilization of Africa’s vast fleet of 26 million vehicles within the continent.

Meet the New Board Members

  1. Ebenezer Arthur (Board Member): With an impressive 18-year background encompassing sales, transportation, and technology, Ebenezer Arthur is the Managing Partner of Wangara Capital Partners. He also holds the position of Managing Director at Wangara Green Ventures, an investment firm dedicated to impact-driven initiatives such as renewable energy, waste management, climate-resilient agriculture, and energy efficiency in Ghana.
  2. Adejare Rasheed Olaoluwa (Board Member): Hailing from the banking and financial services sector, Rasheed Olaoluwa brings a proven track record to the table. His prior role as Managing Director/CEO at the Bank of Industry, Nigeria’s pioneering Development Bank, demonstrates his strategic management and investment prowess, which will be instrumental in driving Treepz’s sustainable expansion and financial achievements.
  3. Laura Venasse (Board Secretary): A Partner at LaBarge Weinstein, a distinguished Canadian business law firm specializing in financial services, mergers and acquisitions, and IPOs. Laura’s expertise in law and business administration will provide crucial legal guidance and governance oversight to the board.
  4. Jane Egerton-Idehen (Board Chair): A seasoned technology executive with a strong Fortune 500 background, Jane Egerton-Idehen is an Angel Investor and strategic consultant. Her experience includes serving as Head of Sales for the Middle East and Africa at Meta (Facebook). Drawing from leadership roles at Avanti, Ericsson, and Nokia Siemens Networks, Jane’s insights will be pivotal in invigorating Treepz’s strategic path.

Elevating Business Performance and Sustainability

In Q4 2022, Treepz embarked on a transformative journey aimed at reshaping its business for enhanced financial sustainability. The results have been remarkable, with an 80% reduction in monthly operating expenses, an impressive 77% quarter-on-quarter increase in revenue, and an outstanding 98% growth in gross margin since Q1 2023.

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The company’s forward-looking goal involves achieving operational profitability by the year 2024. The strategic input from the newly appointed board members is set to be a key driving force in realizing this ambitious objective.

Source: Technovagh

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