Autochek, a Lagos-based automotive technology company officially launched its operations in Kenya as part of its pan-African expansion.
Autocheck is opening in Kenya after announcing the acquisition of automotive marketplaces, Cheki Kenya and Cheki Uganda from Ringier One Africa Media (ROAM).
The company in a statement said the move into the Kenyan market shows Autochek’s focus on building digital solutions that will increase market adoption for auto loan financing and drive partners’ prosperity for its core stakeholders such as dealerships, garages, and financial institutions.
East Africa’s growing market is positioned as a key auto financing hub with credit penetration in Kenya at 27.5 percent and over 400 car sales per annum. Autochek will leverage its 360-degree automotive solutions to provide vehicle financing and after-sales services such as NCBA Group, Caritas, and Sidian.
“with a high credit penetration rate, Kenya is an exciting market for us to be expanding into. The Kenyan market presents an opportunity for us to build on what Cheki Kenya has done over the last decade and to build technology solutions that will drive growth in Africa’s automotive industry,” Etop Ikpe, founder and CEO of Autochek said.
Bilhah Muriiti, who was appointed as the county manager also said moving to Kenya for them, presents great opportunities for innovation.
“We foresee great opportunities in Kenya –not just for Autochek, but also for key stakeholders and consumers. By moving into Kenya, we are able to deliver great opportunities for innovation. I am excited to be joining this highly motivated team who are passionate about making a real impact across the continent,” Bihah said.
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Autochek combines technology underpinned by data analytics to deepen auto finance across the continent. Autochek is able to pre-qualify customers from financing and disbursing auto loans within 48 hours through a single application process powered by its residual value algorithm. The company’s in-house digital solutions have enabled the platform to partner with over 68 financial institutions to build 1000 strong dealer network integrated with 1000 workshop network in Nigeria, Ghana, and Kenya. The Autochek app is currently available on android and website and undergoes a 150-point check inspection process before being listed.
Autochek launched in 2020 as an automotive company established to build digital solutions to enhance and enable automotive commerce across Africa. The company combines technology underpinned by data analytics to deepen auto finance penetration across the continent through its operation in East and West Africa.
