Autochek, an automotive technology company as part of efforts to expand further into the African market, has signed a deal with Ringier One Africa Media (ROAM) to acquire automotive marketplaces, Cheki Kenya and Cheki Uganda.
The deal would see Cheki Kenya and Uganda’s operations integrate with the wider Autochek operations.
The move also comes just a year after Autochek successfully acquired Cheki Nigeria and Ghana as part of its launch in West Africa.
Speaking on the acquisition, Founder and Chief Executive Officer of Autochek Etop Ikpe said, “the acquisition of Cheki Kenya and Uganda is an important milestone for us and we are excited to be working with ROAM Africa once again, building on their achievements over the past years,” he stated.
“ROAM Africa has an unrivalled track record of operating and scaling some of Sub-Saharan Africa’s most innovative classified marketplaces and we look forward to leveraging on this solid business foundation,” he added.
Autochek’s mandate he said, was to accelerate the ability of African consumers to access better quality and affordable vehicles by providing access to financing, while derisking the auto lending process for financial institutions.
“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,” he stressed.
On his part, CEO of ROAM Africa, Clemens Weitz, said, “Across the world, we see a new evolution of digital automotive platforms, requiring deep specialisation. 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.”
“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,” he stressed.
BY MICHAEL D. ABAYATEYE