Treepz, an online rental marketplace in Africa, has appointed four new board members. Among the new members are Jane Egerton-Idehen, a former executive at Meta-owned Facebook and Adejare Rasheed Olaoluwa, a former Managing Director at Nigeria’s Bank of Industry. Treepz claims the infusion of fresh faces will come in handy as the company targets rapid growth in the coming months.
In a press statement shared with Technext, the company also said that the appointments were a strategic move to grow shareholder value. Sustainable expansion is also on the brand’s radar after adding new board members.
Treepz noted that its board was vital in ensuring the business keeps to its original vision. The said vision is to optimize the utilization of Africa’s 26 million automobiles within the continent.
According to the official statement, other new board members are Ebenezer Arthur and Laura Venasse. It is worth noting that while Arthur and Olaoluwa occupy the member position, Venasse and Egerton-Idehen are Secretary and Board Chair respectively.
Ebenezer Arthur, a board member, brings 18 years of experience in sales, transportation, and technology to Treepz. On the side, he serves as the Managing Partner of Wangara Capital Partners. Interestingly, he also holds the position of Managing Director at Wangara Green Ventures.
Wangara Green Ventures is an investment firm keen on leveraging renewable energy, waste management, and energy efficiency for a positive impact in Ghana. “Ebenezer’s deep insights into impact investing and business acceleration will be instrumental in Treepz’s evolutionary trajectory,” the official statement said.
Next up is Adejare Rasheed who previously served as a Managing Director at Nigeria’s Bank of Industry. Treepz highlighted that his expertise in strategic management and investment would play a major role in its goal of sustainable expansion.
Board Secretary Laura Venasse brings legal experience, particularly in mergers and acquisitions. As such, her proficiency in law should help the company operate accordingly.
Aside from being a former Head of Sales for Meta’s Middle East and Africa market, Jane Egerton-Idehen is an experienced angel investor and strategic consultant. With her vast experience in the telecoms sector and her previous leadership positions at Nokia Siemens Network and Ericsson, it is believed that Treepz’s business trajectory will greatly benefit.
Treepz’s desire for business growth
The company revealed that in Q4 of 2022, it strived to give its operations a makeover. It specifically focused on financial responsibility. Following that business move, it claimed it reduced monthly operating expenses by a whopping 80%.
It also grew its quarter-on-quarter revenue by 77%. Since Q1 of 2023, Treepz says it has increased its gross margin by 98%. With the new board members and an unwavering roadmap, Treepz said it will work towards “revolutionizing car-sharing across Africa, propelling value for its stakeholders, clientele, and collaborators.”
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