The automotive technology company facilitating auto financing across Africa, Autochek has acquired Morocco’s KIFAL Auto for an undisclosed amount. This marks the entry of the company into North Africa.
The acquisition comes barely a year after Autochek bought Cheki Kenya and Cheki Uganda from Ringier One Africa Media.
Prior to last year’s acquisitions, Autochek had bought Cheki’s subsidiaries in Nigeria and Ghana, and further partnered with the CFAO Group to launch the network in Ivory Coast.
KIFAL Auto’s acquisition now makes Autochek available in six countries across East, West and North Africa.
KIFAL Auto also links car buyers and sellers through partnerships, and offers several other services including financing and insurance.
Launched in 2020, and backed by investors such as TLcom Capital and 4DX Ventures, Autochek combines technology, underpinned by data analytics to deepen auto finance penetration across the continent. With a presence in Nigeria and Ghana, the company’s 360-degree automotive solution also provides a strong network of after-sales services that preserves and eases vehicle ownership experience across Africa.
The company says it has 1,500 dealers as partners across its markets, and has partnerships with more than 70 financing partners including Access Bank, Ecobank, UBA, Bank of Africa and NCBA Bank.
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