Autochek, a Nigerian led automotive technology company has announced the acquisition of KIFAL Auto, a Morocco based automotive technology startup.
According to the firm, this acquisition is the first major expansion of a West Africa-based startup into North Africa. It added that this acquisition will allow it to tap into the innovation that underpins Morocco’s automotive ecosystem, while it introduces its solutions to alleviate various challenges across the value chain and further integrate the Pan-African automotive industry.
In a statement, the Chief Executive Officer and co-founder of Autochek, Etop Ikpe, said, “From my first interaction with Nizar and his team at KIFAL Auto, I was so impressed by their passion for delivering effective solutions and their commitment to innovation.
“They have built an excellent platform and we are thrilled to have them onboard at Autochek to support the work we are doing to improve the automotive finance value proposition in Africa. There are so many parallels in our individual stories and I look forward to a long and mutually beneficial relationship for years to come.”
The CEO and Founder of KIFAL Auto, Nizar Maane, added, “I have long been an admirer of the work Autochek has done to enable improved experiences across Africa’s automotive value chain.
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