You are probably aware of this development.
But before we go past it, you should know about these few things.
You know Autocheck.
According to their profile, which I don’t want to dilute, it is an ‘automotive technology company established to build digital solutions to enhance and enable automotive commerce across Africa. Operational in Nigeria and Ghana, the company combines technology, underpinned by data analytics to deepen auto finance penetration across the continent.’
Basically, Autcheck facilitates and finances auto checking in the continent.
Today, it has acquired Cheki Kenya and Cheki Uganda.
The acquisition has been made from ROAM Africa, longly known as Ringier One Africa Media.
Based on their report, the deal will be finalized within the following weeks and will see Cheki Kenya and Uganda’s operations integrate with the wider Autochek operations.
The move comes just one year after Autochek successfully acquired Cheki Nigeria and Ghana as part of its launch in West Africa.
Further context: Autocheck is richly backed: it is backed by TLcom Capital and 4DX Ventures, Also, Autochek combines technology, underpinned by data analytics to deepen auto finance penetration across the continent.
With offices in Nigeria and Ghana, the company’s 360-degree automotive solution also provides a strong network of after-sales services that preserve and eases vehicle ownership experience across Africa.
So what does this all mean?
Well, the acquisition of East Africa’s leading online auto marketplace is the next step for Autochek as it expands its footprint in the region and continues its mission to provide seamless access to auto financing across the continent.
In the same breath and building on Cheki’s decade-long experience, Autochek is set to introduce additional technology solutions that will integrate the auto ecosystem as well as increase market adoption for auto loan financing.
As part of the agreement, ROAM Africa will transfer ownership and operational control to Autochek.
The acquisition of Cheki Kenya and Uganda is an important milestone for us, and we are excited to be working with ROAM Africa once again, building on their achievements over the past years. ROAM Africa has an unrivaled track record of operating and scaling some of Sub-Saharan Africa’s most innovative classified marketplaces and we look forward to leveraging on this solid business foundation – Etop Ikpe, Founder and CEO of Autochek
Across the world, we see a new evolution of digital automotive platforms, requiring deep specialization. Specifically in Africa, we believe that Autochek is the one player with the best team and expertise to truly create a game-changing consumer experience. Our Cheki team has built a unique, market-leading brand and a truly remarkable business. Most importantly I want to thank everyone in the team who contributed to this success. Now we are excited to see that taken to the next level. Whilst this is good news for everyone directly involved, the ultimate benefactor will be African car buyers and sellers – Clemens Weitz, CEO of ROAM Africa