Etop Ikpe - Afrikan Heroes

Autochek Launches Online Truck Loans Marketplace in Nigeria, Ghana

March 26, 2021

Autocheck, the innovative automobile startup with operations in Nigeria and Ghana has launched a truck loans marketplace in Nigeria and Ghana that seeks to provide a structured market for truck loans and services. The startup is combining technology and data to enhance the buying and selling experience across African consumers, by creating a single marketplace for all automotive needs.

Launched in September, Autocheck which acquired another automotive startup Cheki Nigeria and Cheki Ghana, as well as raised a US$3.4 million pre-seed funding round expanded its operations to Accra, Ghana.

Presently Autochek app has 20,000 unique vehicles listed on its platform, and more than 12,000 dealers and private sellers as well as a range of corporate partners and customers. It has now announced the launch of its online truck loans marketplace in Nigeria and Ghana, in a bid to migrate the trucking industry to online transactions and increase financing penetration.

With hundreds of truck dealers across Nigeria and Ghana on its platform, the fleet ranges from Flatbeds, Semi-trailers, Tankers as well as Heavy, Garbage and Panel trucks. As part of the rollout, Autochek is partnering with key logistics stakeholders in Nigeria and Ghana, including Kobo360, to finance trucks for African e-logistics transporters and truck owners. This means that customers interested in owning a truck can do that with financing at the best rates.

The new platform is available via the Autochek Android app or website and all trucks undergo a 150-point check inspection process before being listed to guide the customers on the exact state of the trucks. Autochek will also now provide the same services to trucks as it does with the cars already listed on its platform. Its 360-degree solution provides truck financing through finance partners with core expertise in fleet financing such as Baobab Group and FundQuest with spread across Africa and competitive rates. To ensure trucks are kept on the road in good conditions, truck owners also enjoy affordable and expert maintenance services from standardised workshops and technicians in the Autochek partner network.

“Autochek’s focus has always been on transforming automotive trade on the continent. Now it is time for us to extend our services to trucks, as we build out our network and support our partners by providing a structured market for them to purchase and maintain their fleet,” said John Egwu, Autochek’s VP of operations.

“Financing penetration for trucks is lower than one per cent in Africa and our ambition is to migrate what is known to be a core offline market to a digital platform, in order to increase financing penetration and create a one-stop-shop that will not just meet partners’ needs but also ultimately increase earning capabilities and job creation across the value chain.”

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Autochek Expands to West African Sub-region, Opens Accra Office

January 27, 2021

The vision of expanding its services across major markets in the West African sub-region which was hampered by the Covid-19 pandemic last year has come to fruition with the opening of the Accra office. The management of the Nigerian based auto-tech startup Autochek envisaged that with greater integration occasioned by the Africa Continental Free Trade Agreement (AfCTA) the time for pan-African expansion drive is now and the first launchpad outside Nigeria is Accra Ghana.

The startup aims to build digital solutions that will enhance and enable a seamless and safe automotive commerce experience across Africa, starting with Nigeria and Ghana.It plans to use technology to transform the automotive buying and selling experience for African consumers, by creating a single marketplace for consumers’ automotive needs, from sourcing and financing to after sales support and warranties.

The startup only launched in September but has already acquired automotive marketplaces Cheki Nigeria and Cheki Ghana, as well as raised a US$3.4 million pre-seed funding round. It has now commenced operations in Accra, Ghana to support the delivery of technology solutions for one of Africa’s most advanced automotive markets. Building on the work Cheki Ghana has done over the last decade, Autochek is combining technology and data to create a single marketplace for car sales, car loans and car repairs in Ghana.

Consumers in Ghana can now buy cars and access car loans via the Autochek Android app or website, knowing that every listed car has undergone a 150-point inspection process. The inspection service can also be used for cars outside the Autochek network. Autochek will also enable more effective sourcing and affordable car loans, as well as car repairs and warranties.

Autocheck has also onboarded auto dealers and auto workshops from across the country who can now rely on consistent leads that have been filtered to validate their interest. Car owners can book maintenance and repairs via the app and the website with the confidence that their cars will be in the hands of standardised workshops and technicians from Autochek’s partner network. By focusing on the needs of both customers and dealers, Autochek is building an ecosystem of solutions that will deliver an unrivalled customer experience.

Etop Ikpe, CEO of Autocheck said that they are excited to be in Ghana and to be part of the ecosystem, adding that the government is doing a lot of great work to support the automotive industry but there is also a need to make sure that vehicles meet a certain standard before they are bought or sold locally. “This is where we hope to bring our expertise to create an effective and efficient marketplace for everybody” he added.

“We have also seen an increase in demand for tech-enabled solutions as people and businesses respond to the COVID-19 pandemic and the challenges that have come with it. This tech-enabled approach will enable a better customer experience and facilitate transparency and ease of doing business, which in turn translates to increase in transactions and more efficient business operations.”

Yvonne Ahlie, head of business operations for Ghana at Autochek, said the automotive industry in Ghana was one of the most advanced in Africa, but that there is still some work to be done, especially with regards to the day to day experience for consumers, dealers and workshops.

“The fragmentation of the industry means most players are operating in silos and are not able to reap the full benefits of what the market has to offer. There is also a dearth of comprehensive data that dealers and workshops can use to underpin business decisions and this is impacting their performance. This is where Autochek will make a difference by combining data and technology to transform the automotive transaction ecosystem and enable excellence across the value chain,” she said.

Over the next year, Autochek aims to onboard more than 500 dealers and workshops across various cities in Ghana, making it easier for Ghanaians across the country to access the automotive services they need.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Nigeria’s New Auto-Tech Startup Autochek Acquires Cheki Platforms

September 26, 2020

Autochek, the newly established automotive technology startup has taken the market by surprise by acquiring the platforms of established firms like Cheki.com in both Nigeria, and in Ghana. Autocheck which was recently founded by former Cars45 chief executive officer (CEO) Etop Ikpe announced the acquisition of automotive marketplaces Cheki Nigeria and Cheki Ghana, previously part of ROAM Africa’s portfolio of leading online marketplaces. With these acquisitions, Autochek aims to build digital solutions that will enhance and enable a seamless and safe automotive commerce experience across Africa, starting with Nigeria and Ghana.

former Cars45 chief executive officer (CEO) Etop Ikpe

It plans to use technology to transform the automotive buying and selling experience for African consumers, by creating a single marketplace for consumers’ automotive needs, from sourcing and financing to after sales support and warranties. ROAM Africa, Cheki’s parent company, has transferred ownership and operational control to Autochek, and all Cheki Nigeria and Cheki Ghana outlets will now be rebranded as Autochek. The new platform will relaunch by the end of 2020. Leading cars marketplace Cheki Kenya remains fully owned and operated by ROAM Africa.

“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. The Cheki brand is well established in Nigeria and Ghana, and we look forward to building on the solid work that the Cheki team has done over the last ten years in reinventing how car purchases are made. Our goal is to continue the great work, as well as expand operations into other African territories from 2021 onwards,” Ikpe said.

Clemens Weitz, CEO of ROAM Africa, said his company believed Autochek would carry on the “incredible results” Cheki has achieved in Nigeria and Ghana over the last decade in developing a specialist car marketplace. “Etop and his team have an outstanding record of success in the African automotive market and we are excited to be handing over these assets to them, ensuring continuity of service as we migrate the platforms over. We are also pleased that the Autochek team is committed to working collaboratively with the existing Cheki team and long-term partners. We look forward to seeing all the success they will achieve together,” he said.

Disrupt Africa quizzed Ikpe on the reasons behind his departure from Cars45, which raised US$5 million in funding from the Berlin-based Frontier Car Group (FCG) in 2017 and expanded into Ghana and Kenya last year. He said the Autochek idea was one that he had been thinking about for some time. “This just felt like the right time to bring that dream to life. The team at Cars45 remains close to my heart and I will always appreciate everyone past and present at Cars45 and FCG for all the great things we did together. Autochek will focus on developing technology solutions that will help dealerships, auto workshops and financial institutions to service their consumers better and we hope to do business with Cars45 in the nearest future,” he said.

“Leaving Cars45 was not an easy decision, but sometimes in life you have to make tough decisions. Life is about journeys and as one journey has ended, I have begun another journey which I am very passionate about. My passion for the industry transcends brands and I am focused on using the opportunities I have to create employment opportunities and wealth for participants in the automotive industry. The automotive sector holds a lot of untapped potential to create employment and wealth for Africans. I believe we are a catalyst to the market and we sit in an area that enables us to work with every single participant in the industry.”

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry