I was perplexed when I saw the news about TRANEX, a provider of multi-faced logistics and transportation solutions, current market cap being just about US$1 million on the Nigerian Stock Exchange, it means if you bring the right cutlery to the table you could get a whole chunk if not all of the meal.
I think it’s really sad to know that a company of over 35 years; founded in 1984 to be precise is actually closing up in such a manner when we have newer companies like Kobo360 and GIGL sprouting up and disrupting the market rapidly.
For worth it’s worth, I have spoken time without number why businesses fail citing two major reasons out of the many reasons I listed;
1.) Failure to Innovate : you must have an active Technology and Innovation Department and be willing to Innovate to bring convenience to your customers. Convenience I always tell people is the best product any company can sell. Be willing to think outside the box and research widely.
2.) Inability to Steal : It’s simple average artist create, great and exceptional artist steal, ain’t nothing being done is new under the sun.
I call on the management of Kobo360 to look into buying off this business and saving of it what remains, I mean they could easily do that after recently raising $30m dollars in funding. This would further cement their stand in the Pan-African global logistics trade.