Autochek Expands into North Africa Following Acquisition of Moroccan Company Kifal Auto
Autochek’s Expansion Plans in North Africa
Autochek, a digital automotive commerce company, has made its entry into the North African market by acquiring Morocco’s leading vehicle marketplace, KIFAL Auto. This strategic move marks a significant milestone for Autochek as it expands its presence across East, West, and North Africa.
KIFAL Auto: A Prominent Player in Moroccan Automotive Market
Founded in 2019 by Nizar Abdalaoui Maane, KIFAL Auto has established itself as one of the leading auto marketplaces in Morocco. The company has been instrumental in connecting car buyers and sellers while offering a range of services through partnerships, including financing and insurance.
Autochek’s Strategic Acquisition
The acquisition of KIFAL Auto by Autochek comes on the heels of several key transactions, including the purchase of Cheki Kenya and Cheki Uganda from Ringier One Africa Media in September 2021. Prior to this deal, Autochek had acquired Cheki’s subsidiaries in Ghana and Nigeria and partnered with the CFAO Group to launch the network in Ivory Coast.
CEO Etop Ikpe’s Enthusiasm for the Partnership
In a statement, Autochek co-founder and CEO, Etop Ikpe, expressed his excitement about the partnership. He praised KIFAL Auto’s dedication to innovation and its commitment to delivering effective solutions, stating:
"From my first interaction with Nizar and his team at KIFAL Auto, I was so impressed by their passion for delivering effective solutions and their commitment to innovation. They have built an excellent platform, and we are thrilled to have them onboard at Autochek to support the work we are doing to improve the automotive finance value proposition in Africa."
CEO Etop Ikpe’s Vision for Expansion
Under the leadership of CEO Etop Ikpe, Autochek aims to expand its reach across North Africa. With KIFAL Auto on board, the company is poised to unlock new opportunities and drive further transformation across the region.
KIFAL Auto Founder Nizar Abdalaoui Maane’s Expectations from Partnership
In an interview with TechCrunch, Maane expressed his enthusiasm about joining forces with Autochek. He highlighted the potential for collaboration between both companies, saying:
"I have long been an admirer of the work Autochek has done to enable improved experiences across Africa’s automotive value chain. There is so much we can learn from each other, and I am looking forward to bringing my experience and expertise to deliver more game-changing innovation in Morocco and beyond."
Autochek’s Partnerships with Banks
As part of its expansion plans, Autochek has established partnerships with over 70 financing partners, including banks. This network enables the company to provide customers with a wide range of financial options, making it easier for them to purchase vehicles.
KIFAL Auto: A Strong Addition to Autochek’s Portfolio
With KIFAL Auto on board, Autochek gains access to an extensive customer base and a strong presence in Morocco. This strategic acquisition is expected to boost Autochek’s growth trajectory and cement its position as a leading digital automotive commerce company.
Conclusion
Autochek’s acquisition of KIFAL Auto marks a significant milestone for the company as it expands into North Africa. With this strategic move, Autochek solidifies its presence across East, West, and North Africa, positioning itself for continued growth and success in the region.
Related News:
- Autochek Acquires Cheki Kenya and Uganda from Ringier One Africa Media: In a bid to expand its reach in the African market, Autochek purchased Cheki Kenya and Cheki Uganda from Ringier One Africa Media.
- Autochek Partners with CFAO Group for Launch of Network in Ivory Coast: To further its expansion plans in West Africa, Autochek partnered with the CFAO Group to launch its network in Ivory Coast.
About Autochek
Autochek is a digital automotive commerce company that provides customers with an extensive range of services, including financing options and vehicle purchases. With its headquarters based in Nigeria, Autochek has established itself as a leading player in the African market.
