Ndubuisi Ekekwe had since resigned from Kobo360 board.

Kobo, West Africa’s logistics pioneer, was profiled by CNN this weekend.  I wrote about this firm in September 2017 and called it “Nigeria’s best logistics company”. It is amazing what the two founders have done here. Congratulations! (The co-founder Obi Ozor likes red caps.)

I like Kobo, a logistics startup that operates from Lagos, Nigeria. It is a very fine company deepening its capacity as a network orchestrator through aggregation. Kobo is positioning itself as a company of the future in the broad logistics sector.

If you own a truck and it is not in Kobo, you may be missing a lot. Kobo provides its drivers health insurance, supports them with school fees, and offers data-driven logistics efficiency, delighting value to drivers who see reverse utilization rate beat any record in Nigeria

Today, we estimate that every Nigerian uses a product moved by a truck within Kobo ecosystem at least once a day. It moves cargoes for leading brands like Flour Mills, Olam, etc. And it is just starting. This is a category-king business and it was born Nigerian.

Kobo – more roads are open.

According to Kantar TNS, the total number of enrolled BVN (bank verification number) users, in Nigeria, is close to 35 million as at September 2018. The implication is that we have 35 million people with bank accounts in a country of 200 million people.

This old video provides the distribution by state when the total BVN number was around 30 million BVN enrollees (numbers as at 2017 Kantar Fintech Summit, Aug 2017). There was also a case study on MMM, the ponzi scheme. Mr. Adebisi Shonubi, the Managing Director of the Nigeria Interbank Settlement System (NIBSS), the organization that makes it possible for Nigerian banks to cross-serve customers (think of using ATM of another bank), provided the numbers including the distribution by states. Kano has about 6% bank penetration rate while Katsina is at 4%. But Lagos has already hit 50%.