In 2003, African Capital Alliance (ACA) backed ABC’s expansion plan.
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ABC Transport Plc commenced operation in road passenger transportation on February 13, 1993 as an off-shoot of Rapido Ventures with a view to running a modern road transportation system in Nigeria.
ABC Transport operates luxury bus services according to accepted international standards of road transportation. Its services are specially designed for distinguished travellers who would otherwise use air service.
The operations within and outside Nigeria are carried out in ultra modern terminals, with comfortable lounges in various cities like Lagos (Jibowu & Amuwo-Odofin), Aba, Owerri, Port-Harcourt, Abuja, Enugu, Onitsha, Umuahia, Jos, Mbaise, Bolade, and Accra (Ghana).
ABC buses are dubbed with the company's trademark the Reindeer. The choice of the Reindeer as the company's symbol was made after a careful study of the peculiarities of the animal which is strong, fast and moves in herds.
For the company's remarkable achievement in transportation, ABC Transport was adjudged the Best Transporter in Nigeria by the Chartered Institute of Transport, Nigeria and has since then consistently won the National Bus Operator of the Year Award along with other accolades by renowned bodies.
ACA partnered with ABC Transport, one of the leading providers of luxury transport services in Nigeria. ACA took the view that the road transportation industry in Nigeria in 2003 had significant room for growth, and decided to back ABC’s expansion plans. ABC grew its fleet from 46 buses when CAPE I invested to 135 and pioneered the expansion into the West Coast of Africa. When ACA exited the company, it was worth $51 million; an increase of over tenfold on the $3.5 million value at the time of our investment.
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