Accelerating self-financing in French-speaking Africa

Nigerian automotive technology company Autochek has announced the acquisition of CoinAfrique, the leading classifieds platform in French-speaking Africa, to accelerate the penetration of its self-financing services in French-speaking Africa. Autochek aims to create digital solutions that will enhance and enable a seamless and secure automotive commerce experience across Africa. The company uses technology to transform the automotive buying and selling experience for African consumers, creating a single marketplace for consumer automotive needs, from supply and financing to after-sales service and warranties. Acquisitions have been central to the startup’s rapid expansion strategy. Autochek was launched in September 2020 after acquiring automotive markets Cheki Nigeria and Cheki Ghana from ROAM Africa. In addition to Ghana, it has expanded to Kenya and Uganda, with the latter two launches again achieved through the acquisition of Cheki properties. In May, it acquired its Moroccan counterpart KIFAL Auto to accelerate its expansion in the North Africa region. The start-up, which raised $13.1 million in seed funding last year for its expansion in West Africa, has now set up shop in Ivory Coast, Senegal and other countries. other French-speaking countries with the acquisition of CoinAfrique.

SOURCE: DISRUPT AFRICA

About Mitchel McMillan

Check Also

Weary and wary Kenyans prepare for national elections

NAIROBI, Aug 4 (Reuters) – East Africa’s economic powerhouse will hold elections on August 9 …