Breaking: Kobo360 Ceo Cik Mugambi Resigns One Year After Taking The Reins

Cik Mugambi, CEO of Kobo360, a logistics startup that provides access to trucks for businesses like Dangote, Unilever, and Flour Mills, has resigned after one year. Mugambi, who joined Kobo360 in 2021 from the International Finance Corporation IFC as chief of staff and head of investor relations, was named CEO after co-founder Obi Ozors exit in August 2023.

Mugambi announced her exit on a company-wide call on October 29. At least three people with knowledge of the matter claimed there was some chatter about her impending resignation in the past week.

The startup had a bright start, launching in 2017 and raising 6 million in a 2018 seed round led by the International Finance Corporation IFC. In 2019, it raised 30 million equity and debt from investors like TLCom, Y Combinator, and IFC in a Series A round.