Actualités
Moroccan start-up Kifal Auto acquired by Nigerian Autochek
Autochek, a Nigerian automotive technology company, announced on Wednesday, May 18, that it has acquired Kifal Auto, a Moroccan automotive technology startup, to further its expansion in North Africa. The start-up Kifal Auto was founded by Nizar Abdallaoui Maaneen in 2019 to transform the used car buying and selling experience in Morocco. This is done by offering a transparent process throughout the transaction and providing access to financing, with a mechanical breakdown guarantee, insurance underwriting and other services.
Kifal Auto was also part of CDG Invest’s “212 Founders” program, Autochek said in a statement.
Through this acquisition, Autochek wants to exploit the full potential of the used car market in Morocco. Solutions will be deployed to address the various challenges in the value chain and further integrate the pan-African automotive industry to create a strong proposition for
Already present in West Africa and East Africa (Nigeria, Ghana, Ivory Coast, Kenya and Uganda), Autochek facilitates access to financing for used cars in Africa, in particular thanks to a technology and artificial intelligence of data analysis that allows financial institutions to offer credit more easily to consumers, the company said in a statement. crédits aux consommateurs, précise enfin la société dans un communiqué.
