Accra, July 12, GNA – Autocheck, an automotive technology company, has announced acquisition of CoinAfrique, platform for classified ads in French-speaking Africa, to facilitate the former’s penetration of its auto financing services in Senegal, Côte d’Ivoire and other French-speaking African countries.
The CoinAfrique team will join Autochek in their bid to make car ownership more accessible and affordable across the continent.
Etop Ikpe, CEO of Autocheck, said Francophone Africa was home to many of the fastest growing economies on the continent, as well as and the fastest growing brand new car market.
He added that with the acquisition, they would be doubling down on their Francophone focus to replicate the successes achieved so far in the English-speaking West Africa and East Africa region.
“They are joining the Autochek family with many years of business and infrastructure development experience across Europe and Africa and we are looking forward to leveraging their expertise to improve the automotive finance value proposition across the continent,” he said.
Matthias Papet, CEO and co-founder of CoinAfrique, said they were excited about the opportunity to drive the penetration of auto financing across Francophone Africa and to support the wider mission across Africa.
“We see many opportunities to unlock value for users across all the categories on our platform and to expand into new countries, and we are looking forward to leveraging Autochek’s market leading loans product and expertise to deliver more transformative experiences for our users,” he added.
CoinAfrique has become a classified marketplace for Francophone Africa, enabling businesses and individuals to seamlessly buy and sell vehicles, electronics, real estate and other goods.
The CoinAfrique app has been downloaded more than 2 million times, with 800,000 monthly active users and 60,000 new ads per month.
Autochek is an automotive technology development company focused on making car ownership more accessible and affordable in Africa.
With active operations in nine countries across East, West and North Africa, the company is improving Africa’s automotive finance value proposition by bringing all relevant stakeholders together to enable easier access to more financing options as a catalyst for growth in Africa’s automotive industry.
GNA