Obinna Anyaegbu is the first son of Chief Chidi Anyaegbu, a successful Nigerian business tycoon who amassed his vast wealth from his transportation and logistics business. In this interview with Business Elites Africa, he recounts his experience growing up in a family that was characterized by logistics and transportation, and how his father’s success informed his career path. Also, he discusses Chisco Express, a technology-backed startup he recently founded as part of his plans for the next growth phase of his father’s empire. Enjoy the conversation.
BEA: People will like to know how your father’s success in transportation and logistics has influenced your decision to follow the same path.
Obinna Anyaegbu: I was basically born into logistics. From a very young age, I got immersed in everything there is about logistics – driver management, fleet acquisition, spare parts, etc. I’ve basically been in and around the situation of logistics. And I must admit that my father’s mastery and success in this industry through his company Chisco Transport have been a big influence on me. Right now, however, what I am most interested in is how logistics influences trade. That’s exactly why I established Chisco Express. We are using technology and leveraging data to build a platform/marketplace that will enable trade to happen seamlessly.
Read our full interview with Obinna HERE
As you know, logistics is a driver for so many other aspects of the commerce value chain. For this reason, we are building on logistics which is our base. That’s what we have honed into, as our strength, over the past 35 years as a group. Chisco Express is now coming along as the new kid on the block, backed by technology and bringing embedded services into the chain with our partners, all with the mission of consolidating everything Chisco Group has already done. With Chisco Transport, we already have on the ground over $25 million worth of logistics infrastructure across West Africa. And that’s basically what we now want to build tech on top of. But then again, it’s beyond just building on what Chisco Transport already has on ground. It’s also about the other embedded services we are offering; about making it possible for other service providers to link into our technology and provide services to clients.
BEA: Tell us more about Chisco Express.
Obinna Anyaegbu: Chisco Express was established around February 2020, shortly before COVID-19. It was a very rocky start for us. Our first load movement happened around March 14th when we transported instant noodles to the North and some cashew nuts back to the West. It was a very tough period, bearing in mind the security situation and the pandemic at that time. Fundraising was also very difficult. But we managed to surmount these difficulties. One thing is certain, and that’s the fact that logistics is a pandemic-proof business.
What we are building at Chisco Express is more than just your typical logistics firm. We are building a technology suite that can afford clients the opportunity to not only transport their goods, but also monitor every stage of the transportation process and even get other embedded services such as loans, insurance, etc. It is truly a commerce enabler. And while it is not yet a perfect product, we are continually fine-tuning it to make it exactly what we envisioned it to be…
Keep reading the interview HERE
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