Shuttlers' CEO Damilola Olokesusi Receives Acclaimed 2024 Legit Business Names Award
- Shuttlers' Damilola Olokesusi has been selected as a recipient of the 2024 Legit Business Names Awards
- Olokesusi serves as an inspiring figure for breaking barriers and shaping the future of mobility in Nigeria
- The award acknowledges the positive impact Shuttlers has had on enhancing accessibility and convenience for Nigerians
- Speaking exclusively with Legit.ng, Olokesusi gives an optimistic projection of the startup for 2024
Damilola Olokesusi, the chief executive officer and co-founder of Shuttlers, has been honoured with a prestigious Legit Business Names Awards.
From a pool of top individuals across sectors, Olokesusi was picked for her remarkable contributions to the mobility industry in Nigeria.
The Legit Business Names Awards is dedicated to recognising outstanding business leaders for their significant contributions to Nigeria's economy and noteworthy achievements over the past year.
Source: UGC
As a female entrepreneur making waves in a traditionally male-dominated industry, Olokesusi influencing the trajectory of transportation in Nigeria.
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Shuttlers helps individuals to enhance their commute duration by offering the option to book rides along predetermined routes at affordable rates in major cities.
Under Olokesusi's leadership, Shuttlers, a Nigerian shared mobility tech startup, has revolutionised how professionals and organisations commute.
Olokesusi's leadership of Shuttlers
Olokesusi earned her bachelor's degree in Chemical Engineering from the University of Lagos, Nigeria.
In 2016, she co-founded Shuttlers with a mission to tackle the challenge of inefficient transportation costs in Nigeria's prominent urban hub, Lagos.
Initially starting with a single route, Shuttlers has expanded its services to over 40 routes and recorded over 3 million trips since its launch.
Under Olokesusi's leadership, the startup successfully secured multiple funding rounds, running into millions of dollars, and facilitating its expansion across Nigeria.
Her noteworthy accomplishments have garnered several accolades, including recognition in the 2019 edition of Forbes Africa’s 30 Under 30 list in the Technology category.
Additional funding for Shuttlers
In the year 2023, Shuttlers marked noteworthy accomplishments that paved the way for its future endeavours.
The mobility startup effectively secured funding to propel its goals and extended its reach to dozens of states across Nigeria.
Olokesusi speaks of Shuttlers' achievements:
"One notable accomplishment was securing additional funding of $4 million to support our ambitious vision. This financial support validated the promise and potential of Shuttlers and enabled us to explore innovative avenues and scale our operations to better serve our users.
"We also expanded our reach to 27 states in Nigeria with one of our products - Shuttlers Rental. Amidst the challenges that defined the year, Shuttlers experienced a remarkable 2.5x growth, reaffirming our position as industry leaders."
In 2023, Shuttlers faced a formidable test of resilience, especially in light of the fuel subsidy removal and subsequent rise in petrol prices, which had a notable impact on its services.
However, instead of succumbing to adversity, the company embraced the challenge as an opportunity for growth and fortification.
She added:
"The difficulties encountered throughout the year served as a crucible, forging a more cohesive and adaptable team, showcasing our ability to navigate uncertainty and adapt to dynamic circumstances."
More expansion for Shuttlers in 2024
In the new year, Shuttlers is poised to embark on an ambitious trajectory, aiming for a significant threefold expansion.
This strategic initiative aligns with its dedication to cater to a wider audience, ensuring that more individuals can benefit from the convenience and dependability offered by Shuttlers.
Olokesusi said:
"A key aspect of our 2024 vision involves a significant geographical expansion. Shuttlers is set to extend its operations to 30 states in Nigeria and a couple of cities outside of Nigeria.
"This expansion initiative is driven by our commitment to making Shuttlers a far-reaching and accessible transportation solution across diverse regions."
Olokesusi adds that through the expansion of its service coverage, Shuttlers endeavours to connect communities, bolster economic activities, and deliver unmatched convenience to individuals and businesses.
Olokesusi says talents need motivation
To retain top talents in Nigeria, thereby preventing their migration to other destinations, Olokesusi highlights the importance of implementing several key measures.
She said:
"This involves giving talent purposeful work, paying them well, providing opportunities for them to grow and thrive, recognising and rewarding them, setting their managers up for success and creating an environment for them to build connections with their colleagues and have a voice."
She emphasizes that undertaking this action will not only demonstrate the value placed on employees but also serve as a source of motivation for them to remain committed.
Olokesusi inspires young entrepreneurs
In a country where the entrepreneurial path is inherently challenging, marked by uncertainties and setbacks, Olokesusi urges aspiring entrepreneurs to display resilience and unwavering determination.
She said:
"Embrace failures as opportunities to learn and adapt, and let them fuel your perseverance. Surround yourself with a team that shares your passion and complements your skill set.
"Stay relentlessly focused on your mission, continuously iterate based on feedback, and remain adaptable in the face of a dynamic business landscape."
She notes that individuals who persist through inevitable obstacles and continuously innovate are often the ones who achieve success.
Seven Nigerian women-led startups raised over N5 trillion in 2021
Meanwhile, Legit.ng earlier reported that seven Nigerian startups led by visionary women raised over N5 trillion in funding.
The fintech ecosystem in Nigeria has attracted women who are raising funds for their ventures in the country.
The all-women-led startups are plugging financial gaps that exist in the ecosystem and closing the gender disparity cleavages.
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Source: Legit.ng
