Nigerian automotive tech company Autochek acquires Cheki Kenya and Cheki Uganda from Ringier One Africa Media, an online marketplaces company in Sub-Saharan Africa.
In a statement, Autochek said the acquisition of Cheki is the next step to expand its footprint in East Africa and continue its mission to provide seamless access to auto financing across the continent.
“We are long-time admirers and collaborators of the Cheki brand. Following today’s news, we intend to provide even more trust and transparency in East Africa’s automotive sector, leveraging the unique networks we are now joining together,” Etop Ikpe, Autochek founder/CEO said.
Clemens Weitz, ROAM Africa CEO, said Autochek’s product is unique with a game-changing consumer experience.
“Our Cheki team has built a unique, market-leading brand and a truly remarkable business. Whilst this is good news for everyone directly involved, the ultimate benefactor will be African car buyers and sellers,” Weitz said.
“For ROAM Africa, this deal is more than a very good transaction: It unleashes even more focus on the strategic playbook for our core businesses.
“We have a clear strategy that will further strengthen our leading marketplaces and invest in innovative product solutions.
“The opportunity is now bigger than ever since the pandemic has vastly accelerated digitisation across the continent. In the last two years, our businesses recorded unprecedented growth. Thus, our commitment to connect Africans to opportunities remains strong.”