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Autochek Acquires ROAM Africa’s Online Car Platforms Cheki Kenya and Cheki Uganda

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Autochek, the automotive technology company facilitating auto financing across Africa and ROAM Africa (Ringier One Africa Media) have entered into an agreement for Autochek to acquire automotive marketplaces Cheki Kenya and Cheki Uganda, as Autochek expands further into the African market.

The deal has now been finalised 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.

Launched in 2020, and backed by notable investors such as T Lcom 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 acquisition of East Africa’s leading online auto marketplaces, which has recently been inked as a defining moment for Autochek as it continues to expand its footprint inching closer to its mission of providing seamless access to auto financing across the continent. Building on Cheki’s

10 years of 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 has transferred ownership and operational control to Autochek.

Speaking on the acquisition, Bilhah Muriithi, the country manager, Autochek Kenya, said, “Cheki is a very trusted brand in this market and Autochek is building on that by adding value to all the partners in the car ecosystem. We have partnered with workshops and garages in inspecting the cars before populating them on the marketplace. Car buyers will get multiple financing offers from a single loan application, financial institutions will be empowered to make faster assessments leading to quicker loan disbursement due to the availability of the detailed

inspection certificate. For car dealers, based on the competitive nature of the market that Autochek has created, there is a guarantee of faster fulfillment or disbursement which eventually increases sales for your business. Everyone wins with Autochek”

Founded in 2010, Cheki Kenya has built a network of hundreds of dealers, more than 12,000 vehicles listed monthly and 700,000 monthly unique users on its platform with 80% plus year-on-year growth in the last two years.

“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,” said  Clemens Weitz, CEO of ROAM Africa.

“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 into innovative product solutions. The opportunity is now bigger than ever, since the pandemic has vastly accelerated digitization across the continent. In the last two years, our businesses recorded unprecedented growth. Thus, our commitment to connect Africans to opportunities remains strong.”

With credit penetration in Kenya at 27.5%, significantly higher than the West African market which stands at 5%, East Africa’s growing market is positioned as a key auto financing hub and Autochek is now strategically positioned to scale as it becomes a pan-African player.

ROAM Africa remains committed to connecting Africans to opportunities and will focus on strengthening the autonomy of its existing portfolio companies across East and West African countries such as Jobberman.com in Nigeria and Ghana, BrighterMonday.co.ke,

 

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KBL launches corporate logo redesign competition ahead of 100th birthday in 2022

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Kenya Breweries Limited has launched a competition for the design of a new logo as it looks to mark its 100th birthday in 2022.

Dubbed KBL Still Got Skillz?, the competition is open to design artists from Kenya aged between 21 and 25 years and is intended to culminate in a next-generation logo for one of Kenya’s oldest companies as it marks its centenary.

Artists have been invited to submit their artistic impressions of how a Kenya Breweries Limited (KBL) logo would look like at www.eabl.com/stillgotskillz from November 29 to December 10, 2021. The submissions can be made by an individual or a group of up to four people.

The artists with the winning submission will win a cash prize of KSh1 million and an opportunity to intern at J. Walter Thompson (a Scangroup creative agency), where they will work with a team of experienced creative and advertising experts.

The second and third placed will each receive a cash prize of KSh500,000 and KSh250,000 respectively. The top three designs will be selected by judges after a hackathon where the top 20 will refine their submissions under the guidance of experienced professionals in the design world.

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Billionaires want to make money and will not invest in something because it’s good: Senator Sakaja

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Speaking as the chief guest during the 3rd Edition of the Association of Startup and Small and Medium Enterprises conference held at the crown plaza early today Senator of Nairobi County Hon. Johnstone Sakaja weighed in on why Kenyan Billionaires are not interested in Investing in Scalable Start ups.

Sakaja wants NLC probed for delay in issuance of title deeds to Nairobians

“Billionaires are not interested in nice things.They are interested in making money. As such they put their money where they see money can be made and where their interests are protected. They are not necessarily the good people who like hugging as saying this is a beautiful thing to do.They are sharks and if they do not see how they will benefit from a start up they will not have any interest in it.”

Speaking on how such Private sector players can be influenced to take an active role in enabling growth of scalable startups Hon Sakaja added.

“For such billionaires to invest in scalable start ups incentives by the cabinet secretary to include tax incentives and laws safeguarding such investor interest by the National Assembly should be put in place.So for the first 5 years such investors may be excepted from corporate tax or be entitled to some tax breaks.”

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Boma International Hospitality College on the spot for denying a lady graduation due to alleged sexual harassment case

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A section of lobby groups and education stakeholders are now demanding that Boma International Hospitality College to immediately ensure that one student, Jolly Gatwiri Mugendi, has graduated.

This is after it emerged that she had been denied her rights to graduate despite the fact that she had completed her studies.

The lobby groups under the umbrella body dubbed ‘Concerned Citizens Kenya’ argue that Ms Mugendi is being denied her rights to graduate because she refused sexual harassment advances by the manager of Estate Sonsira where she was undergoing her industrial attachment leading to a delay in releasing her attachment documents hence the delay to submit them to the College for graduation.

It is believed that after Estate Sonsira realized their mistake, they quickly released her documents but despite that, Boma International Hopsitality College still refused to have her name among those expected to graduate this year.

‘This is against the vision, mission and core values of Boma International Hospitality College, and also contrary to the Sexual Offences Act, a behavior that is unwelcome and offensive to the recipient. Denying Jolly Gatwiri Mugendi her right to graduate after completing her studies has created conditions that are intimidating and humiliating to her,’ says the lobby groups.

They further say that all the actions and atrocities by Boma International Hospitality College and the management of Estate Sonsira has made her suffer physical, psychological, spiritual and economical damage, shame, humiliations, fear and isolation’s trauma which includes numbness and headaches, depression, fear of authority, flash backs and intrusive thoughts, decreased self-esteem, introversion and lethargy.

‘We wish to state that all certificate, diplomas and degrees offered at Boma International Hospitality College are sexually transmitted. Students cannot get certificates, diplomas and degrees at the College unless a student parts with sex and that all the stated violations and abuses are happening with the full knowledge of Kenya Red Cross Secretary General Dr Asha Mohammed who is also the Director of the College, and Gina Din-Kariuki the Chair of the board of the College, Mr Samuel Irungu the Director Academic Affairs at the College and George Adala the Director of internship,’ they say.

The lobbies now demand that the College offers Ms Mugendi her Diploma and participate in the graduation ceremony that will be held this Friday failure to which they shall hold a protest march over sexual harassment at the College.

 

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