Treepz, the car-sharing marketplace startup has appointed four new members to its board
The board is poised to play a critical role in shaping the company’s strategic direction and ensuring alignment with its core mission: optimising the utilisation of Africa’s 26 million automobiles within the continent.
The new board members comprise of:
Ebenezer Arthur (Board Member): A distinguished figure as the Managing Partner of Wangara Capital Partners, Ebenezer Arthur contributes a wealth of 18 years’ experience in sales, transportation, and technology. He also serves as the Managing Director of Wangara Green Ventures, an impact-focused investment firm concentrating on renewable energy, waste management, climate-resilient agriculture, and energy efficiency in Ghana.
Adejare Rasheed Olaoluwa (Board Member): Bringing a sterling track record from the banking and financial services sector, Rasheed Olaoluwa previously held the mantle of Managing Director/CEO at the Bank of Industry, Nigeria’s foremost and pioneering Development Bank. His adeptness in strategic management and investment will significantly contribute to Treepz’s sustainable expansion and financial accomplishments.
Laura Venasse (Board Secretary): A Partner at LaBarge Weinstein, a distinguished Canadian business law firm excelling in financial services, mergers and acquisitions, and IPOs. Laura’s acumen in law and business administration will furnish essential legal guidance and governance oversight to the board.
Jane Egerton-Idehen (Board Chair): A seasoned Fortune 500 technology Executive, Angel Investor, and strategic consultant, Jane Egerton-Idehen previously held the position of Head of Sales for the Middle East and Africa at Meta (Facebook). Drawing from her extensive background in the telecommunications sector and leadership stints at Avanti, Ericsson, and Nokia Siemens Networks, Jane’s insights will invigorate Treepz’s strategic trajectory.
According to Treepz, the company embarked on a transformative journey in Q4 2022 to reshape its business, prioritising financial sustainability.
Since then, the company has seen an 80% reduction in monthly operating expenses, a notable 77% quarter-on-quarter increase in revenue, and a 98% growth in gross margin since Q1 2023.
The company plans to achieve operational profitability by 2024.
