Vehicles at a yard in Mombasa on January 15, 2019. PHOTO | KEVIN ODIT | NMG
Autochek and Ringier One Africa Media have entered into an agreement to acquire automotive marketplaces Cheki Kenya and Cheki Uganda.
The deal, which was finalised last week, will see Cheki Kenya and Uganda’s operations integrate with the wider Autochek operations to expand further into the African market.
The move comes just one year after Autochek successfully acquired Cheki Nigeria and Ghana as part of its launch in West Africa.
The acquisition of East Africa’s leading online auto marketplaces is 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. Autochek Kenya country manager Bilhah Muriithi said Cheki is a trusted brand in this market and Autochek is building on that by adding value to all the partners in the car ecosystem.
“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,” said Mr Muriithi.
He added, “We have partnered with workshops and garages in inspecting the cars before populating them on the marketplace.”
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.
Cheki Kenya has built a network of hundreds of dealers, with more than 12,000 vehicles listed monthly.