PROJECT

Projects

Summary of Investment Information

Project Number

41760

Company Name

KOBO360 INC

Date SPI Disclosed

Sep 11, 2018

Country

Nigeria

Region

Africa

Projected Board Date

Oct 13, 2018

Environmental Category

B - Limited

Status

Active

Last Updated Date

Nov 29, 2018

Department

Disruptive Technologies and Funds

Industry

Infrastructure

Previous Events

Approved : Oct 23, 2018
Signed : Nov 23, 2018
Invested : Nov 27, 2018

Sector

Other Support Activities for Transportation (Grain Terminals, Cargo Terminals, Airport Operations)

Project Description

IFC is considering an equity investment of upto US$ 3 million in Kobo360 Inc (“Kobo).

Kobo is a long-haul e-logistics B2B platform utilizing an “Uber for trucks” model to develop a marketplace matching cargo owners with long-haul freight needs and truck owners who are able to service them. 

Through its internally-developed digital platform, Kobo is disrupting the transportation and logistics market in Nigeria offering a strong value proposition to key stakeholders in the sector including cargo owners, transporters (and drivers) and cargo recipients. 

Kobo optimally matches demand and supply of trucks, providing predictability, reliability, price transparency, and increased utilization of otherwise idle assets in the highly fragmented trucking market in Nigeria.        

Given the strong population growth expected (Nigeria will be the third largest country in the world by 2050), logistics will become even more important to support booming sectors such as manufacturing, agriculture, commodities, fast moving consumer goods (FMCG), etc.                                        

Associated Advisory Engagement

There are no Advisory Engagements associated with Kobo at this stage. Potential collaborations will be explored as the Company scales.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation