Vantor Mobility Group Business Plan › Section 10 › Implementation Roadmap & Gantt Plan

Vantor Mobility Group’s roadmap is organised into four sequential
phases over 72 months, structured to manage capital intensity,
demonstrate operational proof points before scaling, and align with the
typical investment horizon of the Series A equity base. The Gantt plan
presented in this section synthesises critical-path activities, key
milestones, and dependencies into a single integrated programme view.
Each phase is gated by performance covenants and capital-release
triggers agreed with the Board and lead investors, ensuring that
scale-up capital is deployed only when prior-phase economics are
validated.

Figure 16.

10.1 Phase 0 — Foundation & Capital Formation (Months 1–6)

The foundation phase concentrates on activities that must be complete
before any operational launch. Series A closing is the gating event for
the entire programme; until equity and senior debt facilities are
funded, all subsequent work is deferred or de-risked through pre-launch
options and conditional contracts.

• Series A closeEquity and debt term sheets
  executed, conditions precedent satisfied, first capital draw-down by
  Month 4.
• Executive teamCEO, CFO, COO, CTO, CCO appointed
  by Month 3; broader top-of-house team in place by Month 6.
• Brand & legalTrademarks registered across
  all Phase 1 jurisdictions; corporate structure finalised including
  holding company in Mauritius or South Africa with operating subsidiaries
  per country.
• Coach procurementMaster Supply Agreements signed
  with two OEMs (e.g. Marcopolo, Volvo, MAN); first batch of 80 coaches
  ordered with 6-month lead time.
• Terminal site controlMemoranda of understanding
  secured for flagship terminals in Johannesburg, Lusaka, Harare,
  Gaborone.
• Technology architectureTech vendor selection
  complete; core booking engine, mobile app, and fleet telematics
  platforms specified and contracted.

10.2 Phase 1 — Launch Corridors (Months 7–18)

Phase 1 introduces VMG to market on four flagship corridors that
combine the highest demand densities, established formal-sector
competition, and viable per-trip economics. The objective is to prove
the operating model end-to-end at sub-scale before committing to broader
network expansion.

• Soft launch — Month
  9Johannesburg–Pretoria–Polokwane corridor with 40 coaches and
  one flagship terminal; limited public marketing, focus on operational
  shake-down and staff training.
• Public launch — Month 12Full commercial launch
  across JNB–Lusaka, JNB–Harare, JNB–Maputo, JNB–Gaborone; coach fleet at
  180 units, mobile app live, integrated brand campaign in five
  markets.
• First full year of operations — Month 18300
  coaches deployed; 3.2 million passengers carried; revenue R1.8 billion;
  EBITDA positive at 10% margin; Net Promoter Score above 55.
• Critical milestone — first independent
  auditBig-4 audit firm completes first full-year audit by Month
  18; unqualified opinion is a covenant under senior debt
  facility.

10.3 Phase 2 — Regional Scale-Up (Months 19–36)

Phase 2 takes the validated model and replicates it across additional
SADC corridors and into adjacent markets — Mozambique, Namibia, and
southern Tanzania. The capital intensity peaks in this phase as fleet
expansion accelerates and second-tier terminals are commissioned.

• Coach fleet to 690 unitsPhased deliveries of 390
  incremental coaches across 18 months, sustaining utilisation targets in
  launched corridors before opening new ones.
• Network expansion12 additional intercity
  corridors brought online, including Cape Town–Johannesburg,
  Durban–Johannesburg, Lusaka–Dar es Salaam, Windhoek–Walvis Bay,
  Maputo–Johannesburg.
• Cargo & freight launch — Month 24Belly-hold
  parcel service activated on all corridors; dedicated freight
  tractor-trailer pilot on JNB–Harare and JNB–Lusaka.
• Series B raise — Months 28–32Top-up capital
  raise of approximately R2.0 billion to fund Phase 3 platform build-out
  and accelerated fleet deployment; supported by audited Phase 1
  financials and validated unit economics.
• Critical milestone — operating cash
  break-evenAchieved approximately Month 30 on a run-rate basis;
  full-year cash break-even by Month 36.

10.4 Phase 3 — Platform & Asset-Light Expansion (Months 37–60)

Phase 3 transitions VMG from a pure operator to a hybrid
operator-platform. The Company’s booking technology, brand, and
operational standards are extended to franchise and joint-venture
partners in markets where direct operation is sub-optimal, dramatically
increasing geographic reach with limited incremental capital.

• Coach fleet to 1,070 unitsOwned fleet expansion
  moderates; franchise-operated coaches under the Vantor brand reach
  approximately 400 units.
• Platform launch — Month 42Vantor Connect
  marketplace goes live: third-party operators list inventory through the
  VMG booking engine, with revenue share and quality standards
  enforcement.
• Geographic expansionFranchise and JV operations
  launch in Tanzania (Dar es Salaam corridor), Kenya (Nairobi–Mombasa,
  Nairobi–Kampala), DRC (Lubumbashi–Kolwezi), and Angola (Luanda
  corridor).
• Cross-border cargo networkBonded freight
  corridors established between South Africa, Zambia, Zimbabwe and
  Tanzania; partnerships with leading customs brokers.
• EV pilot — Month 48First electric coach order
  placed for short-haul commuter routes (Johannesburg–Pretoria, Cape Town
  metro); supported by charging infrastructure investment at flagship
  terminals.
• Critical milestone — IFRS Sustainability
  DisclosuresFull ISSB-aligned sustainability reporting
  implemented by Month 54, supporting future DFI and capital-market
  raises.

10.5 Phase 4 — Consolidation & Exit Readiness (Months 61–72)

The final phase of the current business plan period focuses on
operational consolidation, margin optimisation, and preparing the Group
for a strategic exit or capital-markets event. The objective is to
present an investor a Pan-African intercity-mobility platform with
proven economics, defensible market position, and a credible Pan-African
growth runway extending beyond Year 5.

• Coach fleet to 1,200 unitsFleet expansion
  essentially complete; remaining capital deployment focused on
  replacement cycles, technology, and platform extensions.
• Margin optimisation programmeTargeted reduction
  of cost-per-seat-km by 8% through fuel hedging, maintenance bundling,
  dynamic-pricing refinement, and overhead leverage as revenue
  scales.
• Strategic review — Month 66Board engages
  investment-banking advisors to evaluate exit options: trade sale to
  global mobility platform (e.g. FlixSE, Mobility ADO, Stagecoach
  International), JSE listing, or secondary private-equity
  transaction.
• Exit execution — Months 69–72Preferred path
  executed; target exit valuation R24–32 billion based on 9.0x EV/EBITDA
  on Year 5 EBITDA of R2.67 billion.

10.6 Critical Path & Dependencies

The critical path through the 72-month programme runs through three
sequential gates: capital availability, coach delivery, and corridor
activation. Delays in any of these directly extend the overall
programme, while delays in non-critical-path items (e.g. ancillary
services, EV pilot) can be absorbed without affecting the headline
timeline.

Table 14. Critical-path activities, durations, predecessors and
slack.

10.7 Key Milestones & Investor Reporting Cadence

VMG will maintain a disciplined investor-reporting cadence aligned
with milestone events. Monthly management accounts will be circulated to
the Board within 15 working days of month-end. Quarterly Board packs
will include a formal milestone tracker against the master plan, with
red/amber/green status indicators and corrective-action commentary for
any amber or red items. Annual audited financials, full operational KPI
reviews, and a forward 12-month re-baseline will be presented to
investors each year.

Confidential — this business plan is provided to prospective investors and lenders for evaluation purposes only and may not be reproduced or distributed without the written consent of Vantor Mobility Group (Pty) Ltd.