A Nigerian car marketplace, Autochek has just announced that it had bought Cheki Nigeria and Cheki Ghana from ROAM (Ringier One Africa Media).
ROAM Africa is one of the major marketplaces in Africa; thus, this deal with Autochek had been in the pipeline for some time. In fact, people in the car business had been talking about it.
Autochek itself is rather new, having its beginnings late in 2019 after its current CEO, Etop Ikpe, had left Cars45. According to TechMoran that broke the news, there had been speculations about what was going on after Ikpe took some other top executives with him when he left Cars45.
Cars45 is a well-known automotive trading platform in Nigeria. But, Autocheck acquiring the Cheki brand in two of West Africa’s biggest countries is a big statement. Speaking about the acquisition, Etop Ikpe had said;
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“We are really excited by this new opportunity to drive the African automotive space forward. Our aim is to create a one-stop shop for consumers’ automotive needs, embedding technology at every stage of the process, thereby making the journey of car ownership easier for everyone. Our goal is to continue the great work, as well as expand operations into other African territories from 2021 onwards.”
Ikpe also revealed that Autochek’s strategy for growth will be technology-based. He has been in the automotive industry in Africa for years and he is familiar with the market and customers. Thus, the company will address technological problems.
Additionally, there is the issue of financing, but there are plans to fix this as well. Making auto financing more available to customers and working on stable solutions for ‘warranties and maintenance’ are also part of Autochek’s plan.
Autochek will keep the staff in both Cheki Nigeria and its Ghanaian counterpart. ROAM Africa seems to be confident that the deal will benefit all parties involved. The company’s CEO, Clemens Weitz says; “With Autochek, we have found a company and founding team that will carry on the incredible results Cheki has achieved in Nigeria and Ghana over the last decade in developing a specialist car marketplace, loved and trusted by both car buyers and sellers.”
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