Treepz, Africa’s leading car-sharing and rental marketplace, has appointed four new Board Members, including Jane Egerton-Idehen, ex-Meta Senior Executive as Board Chairperson and Adejare Rasheed Olaoluwa, former MD Bank of Industry, Nigeria.
In Q4 2022, Treepz embarked on a transformative journey to reshape its business, prioritising financial sustainability.
Since then, the company has achieved remarkable milestones, including an impressive 80% reduction in monthly operating expenses, a notable 77% quarter-on-quarter increase in revenue, and a remarkable 98% growth in gross margin since Q1 2023.
With a resolute plan to achieve operational profitability by 2024, Treepz is elated to announce the finalisation of its Board of Directors, a strategic initiative aimed at fostering increased shareholder value and sustainable expansion.
The appointment of the new Board of Directors marks a pivotal juncture for Treepz as it positions itself for accelerated growth in the months ahead.
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.
Meet Treepz’s Newly Appointed Board Members
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.
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. Ebenezer’s deep insights into impact investing and business acceleration will be instrumental in Treepz’s evolutionary trajectory.
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.
Treepz’s Ongoing Commitment to Sustainable Expansion
Onyeka Akumah, Treepz’s CEO said that the company remains steadfast in its commitment to fostering a sustainable and lucrative future.
“Empowered by the guidance of its newly minted Board of Directors and a clearly delineated roadmap, the company is primed to revolutionize car-sharing across Africa, propelling value for its stakeholders, clientele, and collaborators.
“With great enthusiasm, Treepz eagerly anticipates a future marked by continuous growth, innovation, and triumph within the dynamic and perpetually evolving car-sharing landscape of Africa”, he said.
