Autochek Acquires Morocco’s KIFAL Auto to drive North Africa Expansion

Sunday Ehigiator

Autochek, the automotive technology company making car ownership more accessible and affordable across Africa, has announced the acquisition of KIFAL Auto, Morocco’s leading automotive technology startup, to drive its expansion into North Africa. 

In a statement, the company reveal6 that the acquisition represents the first major expansion of a West Africa-based startup into North Africa and its bidded to facilitate effective Pan-African collaboration to drive innovation across the continent’s growing automotive market.

Commenting on the acquisition, CEO and co-founder, 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.”

Also commenting on the development, CEO and Founder of KIFAL Auto, Nizar Abdallaoui Maane, said “I have long been an admirer of the work Autochek has done to enable improved experiences across Africa’s automotive value chain. There is so much we can learn from each other and I am looking forward to bringing my experience and expertise to deliver more game changing innovation in Morocco and beyond. In our Industry and especially in an African context, it makes a lot of sense to continue growing with a large player. Morocco is a gateway into North Africa and I am confident that we can unlock new value and drive further transformation across the board.”

Similarly, Head of CDG Invest, Yassine Haddaoui, said, “KIFAL Auto is a great example of the real change that innovation and a focus on value creation is driving across Africa today. Nizar and his team have shown a lot of passion, vision and entrepreneurial spirit to drive the success the company has seen to date and we are confident that this success will continue as they join the Autochek family.”