Transport
Autochek Acquires ROAM Africa’s Online Car Platforms Cheki Kenya and Cheki Uganda
Autochek, the automotive technology company facilitating auto financing across Africa and ROAM Africa (Ringier One Africa Media) have entered into an agreement for Autochek to acquire automotive marketplaces Cheki Kenya and Cheki Uganda, as Autochek expands further into the African market.
The deal will be finalised within the following weeks and will see Cheki Kenya and Uganda’s operations integrate with the wider Autochek operations. The move comes just one year after Autochek successfully acquired Cheki Nigeria and Ghana as part of its launch in West Africa.
Launched in 2020, and backed by notable investors such as TLcom Capital and 4DX Ventures, Autochek combines technology, underpinned by data analytics to deepen auto finance penetration across the continent. With a presence in Nigeria and Ghana, the company’s 360-degree automotive solution also provides a strong network of after-sales services that preserves and eases vehicle ownership experience across Africa.
The acquisition of East Africa’s leading online auto marketplace is the next step for Autochek as it expands its footprint in the region and continues its mission to provide 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 will transfer ownership and operational control to Autochek.
Speaking on the acquisition, Etop Ikpe, Founder and CEO of Autochek, said, “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”
“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.”
Founded in 2010, Cheki Kenya has built a network of hundreds of dealers, more than 12,000 vehicles listed monthly and 700,000 monthly unique users on its platform with 80% plus year-on-year growth in the last two years.
Clemens Weitz, CEO of ROAM Africa, says, “Across the world, we see a new evolution of digital automotive platforms, requiring deep specialization. Specifically in Africa, we believe that Autochek is the one player with the best team and expertise to truly create a game-changing consumer experience. Our Cheki team has built a unique, market-leading brand and a truly remarkable business. Most importantly I want to thank everyone in the team who contributed to this success. Now we are excited to see that taken to the next level. Whilst this is good news for everyone directly involved, the ultimate benefactor will be African car buyers and sellers.”
“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 into 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.”
With credit penetration in Kenya at 27.5%, significantly higher than the West African market which stands at 5%, East Africa’s growing market is positioned as a key auto financing hub and Autochek is now strategically positioned to scale as it becomes a pan-African player.
ROAM Africa remains committed to connecting Africans to opportunities and will focus on strengthening the autonomy of its existing portfolio companies across East and West African countries such as Jobberman.com in Nigeria and Ghana, BrighterMonday.co.ke, Brightermonday.co.ug, Expat Dakar.com, BuyRentKenya.com and others.
Transport
WIMAfrica and SIFAX Group Partner to Champion Gender Equality in Maritime Industry
Women in Maritime Africa (WIMAfrica), in a significant step forward for female representation in the Maritime field, held a strategic meeting with SIFAX Group at the SIFAX headquarters on November 12th, 2023.
The two organizations aim to foster mentorship, sponsorship, and skills development programs that will empower women to pursue and excel in maritime careers, where female representation remains below 1%. Key figures from WIMAfrica, including Continental Vice President Mrs. Carolyn Ufere and Nigeria’s President Mrs. Rollens Macfoy, emphasized the need for corporate partnerships to expand access to training and professional networks for women. SIFAX’s Coordinating Director, Mrs. Wunmi Eniola-Jegede, expressed the Group’s commitment to gender inclusivity and highlighted the presence of women in leadership roles across its various sectors.
In closing, WIMAfrica extended an invitation for SIFAX Group to support its upcoming conference in Lagos, themed “New Economy and Moving Forward for the Next Generation,” which seeks to inspire young women to explore maritime career paths like engineering and marine security. The collaboration between WIMAfrica and SIFAX Group marks a crucial move toward an inclusive future in Africa’s maritime industry.
… Mbah is godsent to Nsukka zone- Igwe Asadu
… You’ve proven yourself more Nsukka than any Nsukka man- Ezenta Ezeani
… Enugu has suddenly become a reference point for transformational projects – Dennis Agbo
… We’ll deliver on schedule and quality – Contractor
Governor of Enugu State, Dr. Peter Mbah, has flagged-off the construction and dualisation of the 43.7km Penoks-Abakpa Nike-Ugwogo-Nike-Opi Nsukka Road with streetlights and 18-month completion timeframe in line with his administration’s vision to make the state the premier destination for investment, business, tourism, and living.
Speaking during the flag-off ceremony at Opi attended by political heavy weights and leaders of Nsukka Zone, Mbah stressed that the the project, which includes straightening the of many bends, would drastically reduce accidents and criminality on the road.
“In the build-up to the election and in my acceptance speech after my election, we made a pledge that we are going to dualise the Penoks-Abakpa-Ugwogo-Opi-Nsukka Road because . we realised from the outset that if we had to grow this economy to an exponential height, no section of this state should be left behind, more so an economic hub like Nsukka Zone. So, all we are doing here today is connecting those dots,” he said.
Mbah regretted that a trip from Enugu to Nsukka presently takes over an hour, hence the decision to do the 3.6km from the Penoks Junction all the way to the T-Junction flyover in addition to the 41km Abakpa Nike-Opi Nsukka Road to reduce travel time to about 30 minutes and make it possible for the people to comfortably live and work in Enugu and vice versa.
He also noted that his administration’s grassroot-based development and economic model placed the Enugu North Zone at an advantage.
“We are doing projects based on electoral wards. Guess who are the greatest beneficiaries of this model? It is the Nsukka zone. You have 102 electoral wards. That means you will end up with 102 smart schools, 102 Type 2 Primary Healthcare Centres, over 1,000km of roads based since we are additionally going to do at least 10km of roads per ward,” he remarked.
In his remark, the traditional ruler of Edem-Ani and Chairman, Enugu State Traditional Rulers Council, Igwe Samuel Asadu, said, “The people of Nsukka cultural zone and Enugu North Senatorial District never imagined the possibility of this life-time project. The only way we can pay you back is that you do not need to come to campaign here for your second tenure because we are all going to do that for you. You are Godsent to the people of Nsukka, Enugu State and Nigeria at large.”
Also speaking, the Deputy Speaker of the Enugu State House of Assembly, Hon. Ezeani Ezenta, noted that the governor had shut the mouths of naysayers.
“I feel emotional because a lot of things were said during the election. But today, by your good work, you have proved yourself even more Nsukka than any other Nsukka man,” he emphasised.
On his part, former Deputy Governor of Enugu State, Chief Okechukwu Itanyi, described the project as “gigantic, huge, unbelievable and marvelous,” noting that it would open Nsukka Zone and the state to the world.
“This is a legacy project. Your name will never die. Your spirit shall never die. We will continue to give you support,” he added.
Other speakers, including the Chairman of Nsukka Nsukka LGA, Hon. Jude Asogwa, former Secretaries to the State Government, Dr. Dan Shere and Prof. Simon Ortuanya, among others extolled the initiative.
Significantly, in a press statement he personally issued on Monday, Member representing Igboeze North/Udenu Federal Constituency on the platform of the Labour Party, Hon. Dennis Agbo, described the road as “a transformational project, which will greatly facilitate commerce, ease mass transit and evacuation of farm produce by our hard working farmers as well as fight crime and criminality.“
“Our governor has clearly demonstrated his uncanny ability to see and unleash the enormous potential of our dear state and people. It is heartwarming to note that Enugu has suddenly become a frontline state and a reference point for transformational project initiatives,” he stated.
The Member representing Nkanu East/Nkanu West Federal Constituency and Leader of the Enugu State Caucus of the National Assembly, Hon
Nnoli Nnaji, expressed the total delight of the federal lawmakers at the governor’s development initiatives and pledged their total support for him to move the state forward.
Meanwhile the CEO of COMAG Construction Company, Cosmas Agu pledged to deliver a high quality project and on schedule.
Transport
Federal Government To Launch Out 2700 CNG Buses, Tricycles Ahead Of First anniversary Of Tinubu’s Administration
The Presidency on Sunday said it was ready to launch about 2,700 CNG-powered buses and tricycles before May 29 when President Bola Tinubu turns one year in office.
“All is now ready for delivery of the first set of critical assets for deployment and launch of the CNG initiative ahead of the first anniversary of the Tinubu administration on May 29.”
It said the Federal Government is set to deliver 100 conversion workshops and 60 refuelling sites spread across 18 states before the end of 2024.
The Special Adviser to the President on Information and Strategy, Mr. Bayo Onanuga, revealed this in a statement he signed Sunday titled ‘Presidential CNG initiative set for rollout.’
“From the end of May, Nigeria will take some baby steps to join such nations that already have large fleets of CNG vehicles.
“All is now ready for delivery of the first set of critical assets for deployment and launch of the CNG initiative ahead of the first anniversary of the Tinubu administration on May 29.
“About 2,500 of the tricycles will be ready before May 29, 2024…working towards delivering 200 units before the first anniversary of the Tinubu administration,” said the Presidency.
He also said that over 600 buses are targeted for production in the first phase which will be accomplished in 2024.
In October 2023, about five months after the removal of the petrol subsidy, President Tinubu launched the Presidential CNG Initiative to deliver cheaper, safer and more climate-friendly energy.
The CNG Initiative was designed to deliver compressed natural gas, especially for mass transit.
The Federal Government earmarked N100bn (part of the N500bn palliative budget) to purchase 5500 CNG vehicles (buses and tricycles), 100 Electric buses and over 20,000 CNG conversion kits, with plans to develop CNG refilling stations and electric charging stations nationwide.
The FG had said the initiative would ease the burden of the increased pump price on the masses.More information added that the creation of a new plant on the Lagos-Ibadan Expressway that will assemble the tricycles while Brilliant EV will assemble electric vehicles when it receives the Semi Knocked Down components.
The Presidency explained further, “The SKD parts manufactured by the Chinese company LUOJIA in partnership with its local partner to support the consortium of local suppliers of CNG tricycles are set for shipment to Nigeria and expected to arrive early in May.
It is expected that before 2027, There’ll be a considerable wave of these buses and tricycles in use.
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