Gozem raised over $3 million in two years of activity

Economic governance

Friday, 25 September 2020 14:34

Gozem raised over $3 million in two years of activity

(Togo First) - Since it started activities in 2018, the Lomé-based transport startup Gozem has raised more than $3 million.

With a seed capital of $900,000, Nigerian entrepreneur, Emeka Ajene, and Raphaël Dana, a French-Swiss entrepreneur based in Singapore, launched the moto-taxi booking service in the Togolese capital while eying the West and Central African markets. “This was to introduce efficiencies into the personal transport sectors in these markets, and also to replicate the success of Gojek and Grab here in Africa,” Ajene confided in an interview with Techpoint Africa.

As the startup recorded great success in Lomé, it was able to secure three times the initial funding from investors to expand in Africa. This also allowed it to add tricycles (to carry people and goods) and taxis to its services.

Leveraging partnerships with supermarkets, oil companies, among others, Gozem has made it possible for its users to buy products online and profit from delivery services.

In Q1 2020, Gozem completed a record 500,000 rides, up from 350,000 in Q4 2019.

Still hungry for more, the startup wants to secure more funds to finance its expansion in markets such as the Democratic Republic of Congo, Mali, Burkina Faso, Senegal, and Ivory Coast.

Séna Akoda

REFORMS OVERVIEW

STARTING A BUSINESS (more info)

At the fifteenth position, worldwide, and first in Africa, under the Starting a Business index of the 2020 Doing Business ranking, Togo sustains its reformative dynamics with more reforms….

ENFORCING CONTRACTS (more info)

Compared to some years ago when it was one of the lowest rankers under the Doing Business’ Enforcing Contracts indicator, Togo, leveraging many efforts to improve its business climate, was able to jump significantly on the index in the recent years... .

CONTRACT EXECUTION (more info)

Creation of special chambers of commerce for small debts • Creation of chambers of commerce at the Court of Appeal • Civil and commercial cases now handled by distinct clerks • Establishment of commercial courts in Lomé and Kara • Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform • A maximum period of 100 days was fixed to settle a commercial dispute .

TRADING ACROSS BORDERS (more info)

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In comparison to previous years, Togo has significantly improved its ranking on the “Trading across borders” index by adopting multiple reforms that focus mainly on the digitalization and reduction in delays, for import and export procedures related to import and export.

CONSTRUCTION PERMIT (more info)

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REGISTERING A PROPERTY (more info)

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PUBLIC PROCUREMENT (more info)

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PAYING TAXES AND DUTIES (more info)

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