Nigerian automotive technology startup Autochek has acquired KIFAL Auto, a Moroccan automotive technology startup, to drive its expansion into North Africa.
This acquisition comes seven months after Autochek’s acquisition of Cheki in Kenya and Uganda, and 20 months after its acquisition of Cheki Nigeria.
With this acquisition, Autochek wants to tap into the budding automotive industry in Morocco which was valued at $4 billion in 2021 and is expected to reach $5.5 billion by 2027. In 2021, car sales in Morocco exceeded 160,000 units, creating more than 220,000 direct jobs. The industry is also expected to contribute as much as 24% to the Moroccan GDP by 2022.
KIFAL Auto has been positioned to help Autochek achieve its goals. Founded by Nizar Abdallaoui Maane in 2019, the company provides access to financing, warranties, insurance, and other services. It’s also the first startup to be accepted into the inaugural cohort of CDG Invest’s 212 Founders accelerator programme.
Autochek said in its statement that Nizar and the KIFAL Auto team will join the company and continue to explore new opportunities to deliver solutions to drive positive change in the automotive industry in Morocco and beyond.
Autochek’s presence now spans West Africa (Nigeria, Ghana and Ivory Coast); East Africa (Kenya and Uganda) and now North Africa (Morocco).
Car News2 years ago
Polestar is recalls over 2000 electric cars due to software bug
AVIATION2 years ago
Photo News: Air Peace commence flight operations to South Africa
Car News3 years ago
Suzuki’s 2020 V-Strom 1050 goes high-tech in high style
AUTO STAKEHOLDER2 years ago
FRSC COMMENCES ENFORCEMENT OF NATIONAL IDENTIFICATION NUMBER IN DRIVER’S LICENCE PROCESSING
WHEELSCLINIC5 years ago
Chinese-built railway turns tourist attractions in Kenya
Car News3 years ago
Super rich Banana Island residents set for new X7
Car News5 years ago
See world’s most expensive Rolls-Royces ever-built
Classic Cars5 years ago
Range Rover mark decades of peerless design