Treepz, an online rental marketplace in Africa, has appointed four new board members. Jane Egerton-Idehen, a former manager at Facebook when it was owned by Meta, and Adejare Rasheed Olaoluwa, a former head of Nigeria’s Bank of Industry, are two of the new members. Treepz says that the new people will help the company grow quickly in the next few months, which is one of its goals.
In a news release, the company also said that the appointments were part of a plan to increase the value of the company’s shares. After adding new board members, the brand also wants to grow in a sustainable way.
Treepz said that its board was very important to making sure the business stayed true to its original goals. The goal of this strategy is to make the best use of Africa’s 26 million cars.
The formal statement says that Ebenezer Arthur and Laura Venasse are the other two new board members. It’s important to note that while Arthur and Olaoluwa are members, Venasse and Egerton-Idehen hold the positions of Secretary and Board Chair, respectively.
Read also: Treepz pivots becomes car-sharing marketplace for Africa
Treepz board members
Treepz’s board member, Ebenezer Arthur, has 18 years of experience in sales, transportation, and technology. He is also the Managing Partner of Wangara Capital Partners, which is a job he does on the side. He is also the Managing Director at Wangara Green Ventures, which is an interesting fact.
Wangara Green Ventures is an investment company that wants to help Ghana in good ways through clean energy, waste management, and energy efficiency. The official release said, “Ebenezer’s deep knowledge of impact investing and business acceleration will be important to Treepz’s future growth.”
Adejare Rasheed, a former managing director at Nigeria’s Bank of Industry, is the next speaker. Treepz said that his skills in strategic management and investments would be a big part of the company’s goal to grow in a way that is viable.
Laura Venasse, who is the board secretary, has a lot of legal knowledge, especially in the area of mergers and acquisitions. So, her knowledge of the law should help the company work in the right way.
Jane Egerton-Idehen is an experienced angel investor and strategic consultant. She used to be in charge of sales for Meta’s Middle East and Africa business. People think that Treepz’s business will go in a good direction because of her vast knowledge of the telecoms industry and her leadership roles at Nokia Siemens Network and Ericsson.
Treepz’s desire for business growth
The company said that it planned to change how it did business in the fourth quarter of 2022. It was especially about being responsible with money. After making that business change, they said they cut their monthly running costs by a huge 80%.
It also made 77% more money from quarter to quarter. Treepz says that its profit margin has grown by 98% since Q1 of 2023. Treepz said that with the new board members and a clear plan, it will work to “revolutionize car-sharing across Africa, bringing more value to its stakeholders, customers, and partners.”