Treepz in Numbers
- A total of 1,2960,611 passenger trips were facilitated and completed in 2023, seamlessly connecting people across cities.
- In 2023 alone, the company added 6 new cities to the platform, increasing Treepz’s footprints to 16 cities, across 3 regions worldwide.
- 668 vehicles were onboarded on the Treepz marketplace within 8 months, to offer wide transportation options for its diverse user base.
- Customers across the continent have used Treepz technology to commute better over 4 million times since launch.
Reports from Treepz, Africa’s leading shared mobility platform, shows the company had a stellar performance in 2023.
Techeconomy takes a look at Treepz’s resilience as demonstrated in the ‘2023 Year in Review Report’, showcasing its growth and transformative impact.
A Resilient Year in Review:
Now doubt, the past year posed significant challenges in the transportation industry, particularly in Africa, with frequent petrol price hikes, high cost of vehicle maintenance, with the hyperinflation, especially in Nigeria, these impacted the movement of people.
“However, despite these challenges, we navigated through the complexities and emerged at the end of the calendar year as a stronger industry player than ever before”, Onyeka Akumah, the CEO and co-founder, Treepz, said during a meet and greet session with the media recently.
Treepz platform is meeting the diverse needs of users
What began as a simple vision to solve the transportation challenges in Lagos, Nigeria with technology, Treepz has evolved into a global phenomenon.
Today, the platform is providing better transportation solutions for more than four million customers across six countries and three continents.
Akumah speaks:
“Our expansion beyond Nigeria is a testament to the scalability and effectiveness of the Treepz platform in meeting the diverse needs of users globally.
“Earlier in the year, we expanded our footprints to East Africa with the launch of Treepz in Kenya. This strategic expansion marked a significant stride in expanding the company’s presence in East Africa, enhancing accessibility and tailoring transportation solutions to diverse commitments.
Corporate Governance
Treepz’s growth can be traced to its corporate governance culture (CGC) built on a system of rules and practices that determines how it operates and how it aligns with the interest of all its stakeholders.
Good corporate governance fosters ethical business practices, which lead to financial viability.
Thus, in 2023, Treepz solidified its foundation for long-term sustained growth and governance by appointing reputable professionals to the board of directors.
They include,
- Ebenezer Arthur, Managing Partner of Wangara Capital Partners and Managing Director of Wangara Green Ventures, with 18 years of experience in sales, transportation, and technology, focusing on impact investing.
- Adejare Rasheed Olaoluwa, former CEO of the Bank of Industry in Nigeria, offers strategic management and financial expertise.
- Laura Venasse, a Partner at LaBarge Weinstein, brings her legal and business acumen to provide governance oversight, and
- Jane Egerton-Idehen, chair of the Board, an experienced Fortune 500 technology executive with a telecommunications background, promising valuable insights for Treepz’s strategic direction.
Financial Milestones and Self-Sustainability
As Akumah said, one of the Treepz’s pivotal achievements in 2023 was the attainment of financial milestones, with revenues for both Nigeria and Kenya reaching the break-even point.
“This marked a crucial step toward achieving a 100% self-sustaining position for Treepz. The financial stability achieved in 70% of all markets, including our home base in Nigeria and the newly launched Kenya operations, positions Treepz for sustained growth and resilience in the dynamic landscape of shared mobility.
“Moreover, in less than a year since the launch of Treepz’s marketplace in 2023, our platform generated over $1.2 million in earnings for our hosts (vehicle owners), demonstrating our commitment to uplifting and empowering lives and livelihoods across the globe economically.
Usage Statistics
Treepz facilitated and completed a total of 1,2960,611 passenger trips in 2023, seamlessly connecting people across cities.
“In 2023 alone, we also added 6 new cities to our platform, increasing Treepz’s footprints to 16 cities, across 3 regions worldwide.
“668 vehicles were onboarded on the Treepz marketplace within 8 months, to offer wide transportation options for our diverse user base. Customers across the continent have used Treepz technology to commute better over 4 million times since launch”, the co-founder said.
Beyond Transportation
The tale with Treepz doesn’t end with commuting alone. Treepz now extends its reach beyond transportation alone, positively impacting various facets of users’ lives and the environment.
“At the heart of our mission is a steadfast commitment to environmental sustainability, showcased by a remarkable reduction of 922,124 Kg of carbon emissions in 2023. Treepz actively contributes to fostering a greener environment, aligning our efforts with global initiatives to combat climate change and alleviate the ecological impact of transportation.
“Furthermore, Treepz has played a pivotal role in supporting businesses by ensuring the safe daily commutes of 5,127 employees.
“This initiative underscores Treepz’s broader impact in addressing crucial transportation needs and enhancing the efficiency and well-being of employees across diverse organizations”, Akumah said.
Overall, Treepz continues to play a transformative role in the broader spectrum of users’ lives, forging a path towards a sustainable and connected future.
Treepz has started its 2024 journey with the appointment of a new country manager for Nigeria – Read Here.
A message from Onyeka Akumah, CEO/co-Founder of Treepz:
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