Africa's e-logistics startup Lori Systems appoints Uche Ogboi as new CEO
Lori Systems, Africa's e-logistics platform has announced the appointment of Uche Ogboi as its new Chief Executive Officer effective July 1 2021.
Ogboi takes over from the company’s Co-founder and outgoing CEO, Josh Sandler who will be moving on to serve as Executive Chairman of Lori’s board. Prior to his appointment, Ogboi served as Lori's Chief Operating Officer, a post he has held since 2019. As Lori’s COO, Ogboi recorded significant success growing Lori’s Nigeria business 10X in less than a year.
Before Lori, Ogboi served as a Principal, Investments at the pan-African venture capital firm, EchoVC Partners, investing in and scaling startups across various industries and markets. Prior to joining EchoVC, she worked at Citi as an Investment Banker and was involved in deploying over $8 billion of capital across various regions including Sub-Saharan Africa and Europe.
“I am confident that as CEO, she will drive Lori into a period of unprecedented innovation and growth,” he wrote. “There’s no better person to mobilize the market opportunity and execute on our mission to lower the cost of goods in frontier markets,” Josh Sandler said.
Founded in 2016, Lori, a pan-African company, is an e-logistics platform in Africa, seamlessly coordinating haulage in frontier markets, provides supply chain management solutions to cargo owners, ensuring flexibility, reliability, and cost savings. In 2020, the company was selected as a “Technology Pioneer” by the World Economic Forum.
The startup which has its roots in Kenya opened operations in Uganda, Rwanda and South Sudan in 2018, and in 2019 expanded to Nigeria. It is also a serial fundraiser, bagging a sizeable multi-million Series A funding round in 2019, and also took on further investment from Imperial as part of its strategic partnership.
Commenting on her appointment, Ogboi said “I joined Lori because I was deeply captivated by the mission and inspired by the team driving it. Josh is a visionary and has built something radically special in Lori. As CEO, I am committed to continue executing on our vision and scaling the platform to new markets. I am grateful to Josh, Jean-Claude, and the board for this tremendous opportunity and excited to start delivering on the exciting plans ahead.”