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By Ashemiriogwa Emmanuel
Nigerian automotive technology company, Autochek, as part of its East African expansion drive, has acquired Cheki businesses in Kenya and Uganda from Ringier One Africa Media (ROAM) for an undisclosed amount.
This is coming after the ride-hailing company acquired Cheki in Nigeria and Ghana about a year ago.
Launched in 2010, Cheki is a virtual location where car sellers and buyers meet. It is a platform that offers a trusted, reliable, and cost-effective online marketplace for a wide range of quality vehicles. The startup, headquartered in Lagos, expanded operations to Kenya, Ghana, Tanzania, Uganda, Zambia, and Zimbabwe.
Cheki was acquired by ROAM in 2017 and became one of the listed online marketplaces and classifieds in its network like Jobberman.
The current acquisition marks Autochek’s achievement in the complete expansion of business from West Africa to the eastern part of the continent, as it leaves Cheki having its branches left in Tanzania, Zambia and Zimbabwe.
Commenting on the development, the founder and CEO of Autochek, Mr Etop Ikpe, said the acquisition of the East-Africa leading online auto marketplace will expand the auto financing company in providing better access to quality and affordable vehicles to African consumers.
He said, “Autochek’s mandate is to accelerate the ability of African consumers to access better quality and affordable vehicles by providing access to financing, while also 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.”
Mr Ikpe further noted that “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.”
“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 further said.
On his part, the CEO of ROAM Africa, Mr Clemens Weitz, said that “Autochek is the one player in Africa with the best team and expertise to truly create a game-changing consumer experience,” and that the development is good news for everyone directly involved, but will ultimately be of benefit to African car buyers and sellers.
Reiterating ROAM’s achievement over the years, he further stated that, “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 in 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.”
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Jiji Cars (formerly Cars45), one of the most popular car marketplaces in Kenya, Ghana and Nigeria for buying and selling verified cars, has scooped the Motor Vehicle Dealer of the Year, 2022, just a year and a half, after its acquisition by Jiji, the largest online marketplace in Africa.
The award was presented to Jiji Cars during the Global Top Digitally Fit Awards, which was held at the Movenpick Hotel and Residences, Nairobi. The Global Top Digitally Fit Awards recognizes and rewards companies creating an online impact.
Since its acquisition by Jiji, Jiji Cars (formerly Cars45) has created a new advanced experience for its users. They have continuously offered a new car buying and selling experience, where they can inspect cars on behalf of buyers, making them the safest marketplace to buy cars in Africa. This unparalleled experience has helped their market reach exponentially grow since car sellers and buyers benefit from them by selling and buying their cars faster now than ever before.
They beat all other motor vehicle dealers in Kenya, such as BMW Kenya, Hyundai, Simba Colt Motors, Subaru (K) Ltd, Toyota Kenya, CMC Motors, Nissan Kenya, Jaguar Kenya, Mahindra, Car Soko, DT Dobie, Mobius Motors, Yamaha Motors, Foton East Africa, Tata Africa Holdings, etc., to take home the award for the Best Motor Vehicle Dealers in Kenya.
Kenya Auto Bazaar Association (KABA) reported an increase in the demand for third-generation cars (second-hand cars that have been used locally) amid reduced global production of units and soaring prices. However, buyers are also very concerned about the longevity of vehicles once bought. This is why Jiji Cars offers users detailed inspection reports by 200+ parameters, documentation checks, inspections, and concierge service. They also assist buyers with getting car loans, amongst other benefits.
After receiving the award, Ann Bindi, Head of Operations at Jiji Cars, said, “We are thrilled to receive this award. This shows how we have consistently built a trusted buying and selling experience in autos. We want to thank all our clients who have placed their trust in our marketplace and recognized our efforts to ensure they can safely buy and sell their cars through us.”
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By Adedapo Adesanya
Almost a month after the Nigeria Railway Corporation (NRC) announced the proposed resumption of the Abuja-Kaduna passenger train service, the facility will start running on Monday, December 5, 2022, with only two return services.
The announcement by the Managing Director of the NRC, Mr Fidet Okhiria, said the first train would depart Rigasa train station in Kaduna State to Abuja by 8:00 in the morning while from Abuja, the first train will depart Idu train station to Kaduna State by 9:45 in the morning.
The NRC management also revealed that as part of the new security measures, it is now mandatory for passengers to present their National Identity Number (NIN) and valid boarding ticket before they will be allowed to board.
It also says the purchase of tickets by proxy is only limited to minors and a specified number of adult passengers.
It explained that online and mobile app ticketing would be available from 8:00 in the morning on Sunday, December 4, 2022, while the ticket offices at the train stations will open from 6:30 in the morning on Monday, December 5.
Recall that the NRC suspended the Abuja-Kaduna train service along the route after Boko Haram terrorists attacked a moving passenger train in Kaduna on March 28, 2022.
The insurgents had blown up the rail track and bombed the moving train, killing some and abducting more than 60 passengers. The unprecedented attack attracted international and national outrage.
The terrorists who attacked the Kaduna-bound train released hostages in tranches, with the last release coming on October 5, 2022.
Before the hostages were completely released, distraught family members had protested several times to demand the release of their loved ones.
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By Adedapo Adesanya
Ugandan bike-hailing startup, SafeBoda, has announced that it is exiting Nigeria.
After the Lagos State government banned ride-hailing services from the metropolis, the company forayed into Ibadan in December 2019 but began only operations in March 2020.
This March, the company announced that it had completed over 3 million rides, and 50,000 deliveries with over 10,000 riders and 100,000 passengers.
In just a little over one year since launch, the startup crossed the one million rides milestone, growing at an impressive 150 per cent month-on-month. In another 11 months, it tripled its traction to three million completed rides, cementing its dominant position in the region.
However, due to the reality facing the business now, the organisation wants to leave Africa’s largest economy to focus on bringing the company to profitability by deepening its core transportation offering in Uganda, its largest market.
In a statement, it said Nigeria “in its current state is not economically viable and unfortunately requires significant investment at this challenging time in the global economic landscape.”
This will make Nigeria the second market, but first in West Africa, it is exiting after it left Kenya in November 2020, less than two years after expanding its services to the east African country.
The firm said this was due to the negative effects of COVID-19 on its operations.
It is not clear the next step for its other businesses but in August 2022, SafeBoda announced a car-hailing service, SafeCar, in Kampala and one month after, it also launched in Ibadan, Nigeria.
It was reported that SafeBoda claims its car-hailing business has grown 40 per cent weekly since its launch in early September.
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