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Treepz commits to environmental sustainability

Leading Africa’s car-sharing marketplace, Treepz, yesterday restated its commitment to environmental sustainability.

In a statement, it said at the heart of its mission is a steadfast commitment to environmental sustainability, showcased by a remarkable reduction of 922,124 Kg of carbon emissions last year. 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. Overall, Treepz continues to play a transformative role in the broader spectrum of users' lives, forging a path towards a sustainable and connected future,” CEO/Co-founder, Treepz, Onyeka Akumah, said.

The firm said in the face of a tumultuous year in the transportation industry, Treepz, it showed resilience, growth and transformative impact.

“The year 2023 posed significant challenges in the transportation industry, particularly in Africa, with frequent petrol price hikes impacting 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,” he said.

It said what began as a simple vision to solve the transportation challenges in Lagos, has evolved into a global phenomenon, providing better transportation solutions for more than four million customers across six countries and three continents. 

“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.

“We also solidified our foundation for long-term sustained growth and governance by appointing five professionals to our board of directors. They include Ebenezer Arthur, Managing Partner of Wangara Capital Partners and Managing Director of Wangara Green Ventures, who brings 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. Jane Egerton-Idehen, Chair of the Board, is an experienced Fortune 500 technology executive with a telecommunications background, promising valuable insights for Treepz's strategic direction,” Akumah said.

It said one of its pivotal achievements last year was the attainment of financial milestones, with revenues for both Nigeria and Kenya reaching the break-even point. This, it said, marked a crucial step toward achieving a 100per cent self-sustaining position for Treepz.

Akumah said: “The financial stability achieved in 70per cent 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.

“A total of 1,2960,611 passenger trips were facilitated and completed in 2023, seamlessly connecting people across cities. In 2023 alone, we also added six new cities to our platform, increasing Treepz's footprints to 16 cities, across three regions worldwide.

“668 vehicles were onboarded on the Treepz marketplace within eight months, to offer wide transportation options for our diverse user base. Customers across the continent have used Treepz technology to commute better over four million times since launch.”

He added that beyond transportation Treepz now extends its reach to positively impacting various facets of users’ lives and the environment.