Businesses & Financial News

Autochek eyes regional growth with Kenya’s formal launch

Auto technology company, Auto-check formally launched in Kenya as it seeks to ride on the East  African nation’s geographically advantage for its its pan-African expansion strategy.

As a result the firm has appointed Bilhah Muriithi as the Country Manager.

Having recently acquired automotive marketplaces Cheki Kenya and Cheki Uganda from ROAM Africa (Ringier One Africa Media), the move into the Kenyan market signals Autochek’s focus on building digital solutions that will increase market adoption for auto loan financing and drive partner prosperity for its core stakeholders, such as dealerships, garages and financial institutions.

With credit penetration in Kenya at 27.5 percent and over 400,000 car sales per annum, East Africa’s growing market is positioned as a key auto financing hub.

Autochek will leverage its 360-degree automotive solutions to provide vehicle financing and after-sales services through its finance partners such as NCBA Group, Caritas MFB, KKVL, Musoni and Sidian.

With Cheki Kenya’s operations fully integrated with Autochek’s, the company now has over 12,000 unique vehicles listed on the Autochek app and have on-boarded licensed brand new car manufactures (Inchcape, CFAO Group  & CMC Motors) as well as used car dealers (Al Rahim, Autobox, Newton, Mombasa Khushi & Canon Motors). To ensure vehicles are kept in good condition, customers in Kenya can access affordable and expert maintenance services from standardised workshops (AutoXpress, Motor Consult, Kei Cars & ) and insurance partners( PesaBazaar & MTEK) via Autochek’s partner network.

Etop Ikpe, Founder and CEO of Autochek stated “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.

Bilhah joins Autochek from NCBA BANK PLC, Digital Business, where she was responsible for running the Carduka portal, an online motor vehicle platform, as the Business Manager. With over 9 years of experience, Bilhah has built her leadership acumen working with digital brands in Kenya.

She will be responsible for overall oversight of the business, growing the marketplace by ensuring that Autochek has all mainstream car dealers, all auto lenders, all car buyers, all insurance & tracking companies.

“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,” she said.

Launched in 2020 and backed by TLcom Capital and 4DX Ventures, Autochek combines technology underpinned by data analytics to deepen auto finance penetration across the continent.

Autochek is able to pre-qualify customers for financing and disburse auto loans within 48 hours through a single application process. Autochek’s in-house digital solutions have enabled the platform to partner with over 68 financial institutions, build a 1,000 strong dealer network integrated with 1,000 workshop networks in Nigeria, Ghana and Kenya.

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