[Transcript] #46: MAX (Metro Africa Xpress) - How the mobility tech platform is providing transportation & delivery services across Africa
Transcript for podcast originally recorded on February 06, 2022
😉 Hello Afrobility readers and listeners!
In February 2022, we explored the story of MAX - the Nigerian mobility tech platform, not the renamed HBO Max streaming service. They were founded in 2015 have evolved their business model significantly over the years:
2015: Focused solely on logistics delivery for e-commerce businesses, primarily delivering packages.
2017: Expanded to offer passenger transportation services. They also experimented with food delivery, but discontinued it due to poor performance.
2018: Introduced vehicle financing services.
2019: Incorporated electric vehicles (EVs), such as electric bikes, into their fleet. Additionally, launched MAX keke, adding auto-rickshaws (keke marwas) to their transportation options.
2020: Launched MAX Drive, providing drivers with access to financing, vehicle ownership, licensing, and insurance packages. This expanded on their initial vehicle financing efforts from 2018.
Companies discussed: MAX (Max.africa, Max.ng), GiG Logistics, Red Star Express, Gokada, GoJek, Breakthrough Energy Ventures, Jumia Food, Konga, Uber, Africa Courier Express (ACE), Pathao, Flutterwave & Safeboda
Business concepts discussed: Ridesharing, Mobility in emerging markets, Debt Fundraising by startups,
Enjoy!
Olumide Ogunsanwo
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Adamantium Fund: African B2B fund focused on education, health, finance, food and transportation (Website & memo)
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Transcript starts here
[00:00:00] Olumide Ogunsanwo: Welcome to Afrobility, a conversation about African business and technology. Today, we're going to talk about Maxx, the Nigerian mobility tech platform. We'll explore the Maxx story across six different areas. One, we'll give some context about motorbike transportation and other emerging markets. Two, we'll talk about the Nigerian transportation background. Three, we'll go through Maxx's launch early history and growth over time. Fourth, we'll talk about its product modernization strategy. Fifth, its competitive position and potential exit options. And then fifth, we'll finally end on a positive note. Overall views and outlook.
This episode was recorded on January 30, 2020.
B-Max, how’s it going?
[00:00:33] Bankole Makanju: I found an old notebook where I refer to myself as GT Banky. Happy birthday, man!
[00:00:43] Olumide Ogunsanwo: Thank you. One week later. It was an experience. I appreciate it. I was looking up your Banky Banks nickname. It turns out that's the actual name of a reggae artist.
I was like, wow, I made it up on the fly, but it's an actual musician.
[00:00:56] Bankole Makanju: I think somebody stole the name from me, but you know, I need to run and purchase the domain name right now. If you hear that in the background, that's me purchasing the domain name for Banky Banks. Also we're talking about Max.ng, Max. Africa, Metro Africa Express. That's what we're talking about.
[00:01:15] Olumide Ogunsanwo: Yeah. A lot of different names. We'll probably use the names interchangeably, but I'll probably call it max. ng most of the time. Just say max. Sounds weird. Max. Max. ng. Max. africa. Okay. So Max. Africa, they were founded in 2015.
They're basically a Nigerian logistics and mobility company. So they offer a bunch of different things, logistics, which is just like delivery of parcels of e-commerce, all that other stuff. They also offer some mobility stuff. So the mobility stuff is through Max or Kata Max. Keke. So Max Okada is just motorbike transportation, as you'd expect, like Gojek, like Steve Wood, like Patel, like we've been talking about for the past month, and Max Keke is just auto rickshaw transportation.
They also seem to have a car service, but that's not so big. We won't spend a lot of time on that. So basically think about them, logistics and a mobility tech company.
[00:01:58] Bankole Makanju: Olumide right now. Are you using them? Have you gotten on a Max Okada for your big meetings?
[00:02:03] Olumide Ogunsanwo: Impossible. I would never consider it. I'm the wrong customer demographic. I ride with Uber. Shout out to Uber and Bolts. I prefer a car.