Kobo360’s Leadership Crisis: Can Obi Ozor’s Return Save the Startup?

For a company that once symbolized the promise of tech-driven logistics in Africa, Kobo360 has struggled to maintain stability at the top. In less than two years, it has seen two CEO resignations, a near-total operational shutdown, and a deepening financial crisis. Now, as Obi Ozor retakes control, the question is no longer just about a comeback—it’s about whether Kobo360 still has a place in Africa’s rapidly evolving logistics market.

A Leadership Structure in Disarray

Few startups survive the kind of executive turnover that Kobo360 has experienced. Leadership transitions are expected, but when a company loses two CEOs in quick succession—one being the co-founder himself—it signals serious internal challenges.

In August 2023, Obi Ozor stepped down, handing over to Cikü Mugambi, a former International Finance Corporation (IFC) executive. The appointment seemed like a strategic move—Mugambi had experience in finance and investor relations, two areas Kobo360 desperately needed to stabilize.

But by November 2024, just a year later, Mugambi resigned, citing difficulties in securing new investment. Her departure left Kobo360 in limbo, with no clear leadership plan in place.

By December 2024, operations had ground to a halt. Employees were laid off. Markets were abandoned. Kobo360 was, for all intents and purposes, a company in free fall.

Now, in March 2025, Ozor is back—reclaiming ownership through an equity transfer and promising a Q2 2025 relaunch. His return might reassure some, but it also highlights a glaring issue: Kobo360 never had a leadership transition plan strong enough to withstand external pressures.

Was Kobo360 Ever Built to Last?

At its peak, Kobo360 was a market leader, securing major clients like Dangote, Unilever, and DHL. Its $79 million in funding from global investors—including Goldman Sachs and TLcom Capital—signaled confidence in its vision.

But rapid expansion masked underlying financial instability.

Instead of relying on steady revenue from operations, Kobo360 depended heavily on short-term bank loans to finance its fleet. This worked—until it didn’t. When a key banking partner withdrew its credit line, the company had no fallback. Suddenly, it couldn’t pay truck owners or suppliers. Operations slowed, and investors started pulling out.

By 2024, Kobo360 was on life support.

• Some investors wrote down their stakes entirely.
• Key executives resigned.
• The company failed to close new funding rounds.

Mugambi’s resignation in November was the final blow. With no active leadership and no money to operate, Kobo360 became a case study in how high-growth startups can collapse when financial fundamentals are ignored.

Does Kobo360 Still Matter?

Ozor is returning at a time when Africa’s logistics industry has moved on.

New freight-tech startups have emerged, many offering more transparent pricing models and direct contracts with shippers—things Kobo360 struggled with. Businesses that once relied on Kobo360 have found alternative logistics partners.

For Kobo360 to regain relevance, it needs more than just debt restructuring and cost-cutting. It needs a compelling new value proposition—one that proves it can offer something competitors can’t.

Can it do that under Ozor’s leadership?