Autochek, CFAO Motors in MoU for Stress-free Car Ownership

By Bennett  Oghifo

CFAO Motors, franchisees and sole distributors of Suzuki cars in Nigeria, has entered a strategic partnership with Autochek; an automotive technology company, to make car ownership more accessible and affordable in Nigeria and across Africa.

With this deal, interested buyers of Suzuki range of vehicles in Nigeria will have easy access to finance, as customers can walk into any of CFAO Motors dealerships nationwide and get instant financing for any used or new Suzuki vehicle of their choice for purchase.

Drivers will also be able to get financing for new and used Suzuki cars through the Autochek website.

Since its reintroduction into the market in 2019, Suzuki has been at the forefront of introducing cutting-edge technology and market-leading innovation to the Nigerian automotive value chain.

From sales to after-sales, Suzuki by CFAO has been committed to transforming the local auto experience by embedding technology solutions into every stage of the automotive lifecycle.

According to the officials, this partnership with Autochek will build on this commitment and will support the delivery of further improvements to the  value proposition for Nigerian drivers.

Autochek is building the financial infrastructure to drive the penetration of auto financing across Africa, powered by a data analytics engine that makes it easier for financial institutions to offer credit to consumers.

It has existing operations across North, West and East Africa (Nigeria, Ghana, Morocco, Côte d’Ivoire, Senegal, Kenya, Benin, Togo and Uganda), a partner-led retail footprint in over 1,500 dealer and workshop locations, and more than 70 banking partners including Access Bank, Ecobank, UBA, Bank of Africa and NCBA Bank.

“With Autochek, drivers can access a wide range of financing options to suit their needs. All they simply need to do is to fill a short form to apply for the loan and they will start receiving offers from various Autochek approved financing partners.

For online applications, once an offer has been accepted, the vehicle will be delivered in 5-7 days.”

Speaking at the launch of the new Suzuki Celerio in Lagos, Aissatou Diouf, General Manager, Suzuki by CFAO said, “Financing is critical to catalysing the Nigerian automotive industry to reach its full potential. The demand for cars has always been there but inadequate access to finance is often the stumbling block that hinders drivers from having the cars they desire.

“We believe that with Autochek’s market leading financing product and the cars we are introducing to the market, we will be able to catalyse the automotive industry in Nigeria and make car ownership more accessible and affordable.”

For Mayokun Fadeyibi, senior vice president (SVP) of West Africa at Autochek, “Cars remain an essential part of everyday life for most Nigerians. They are our most ubiquitous mode of transportation.”

The Autochek SVP stated that a fragmented automotive ecosystem means there is a lot of untapped value across the board. Fadeyibi stated that  Autochek is committed to bringing all the key stakeholders in the automotive value chain together. These critical stakeholders includes dealers, manufacturers, financial institutions and consumers to drive shared value and alleviate various transport challenges that impact Nigerians.

This is why we have partnered with CFAO to make much-needed auto financing more accessible and drive the growth of our automotive ecosystem for the benefit of everyone.”

CFAO Automotive is a division of the CFAO Group that aims to meet the mobility needs of professionals and individuals. Comprising the most extensive vehicle retail network in Africa, it provides all mobility-related sectors with a multi-brand offer, partnering with global automotive manufacturers: sales of new and used vehicles, short or long-term rentals, fleet management and maintenance.

Its services include  complete automotive offerings like two-wheelers, marine engines, coaches, lorries, handling equipment, tyres, and spare parts.

CFAOs production and assembly sites in Africa are a shining example of the conglomerate’s commitment to actively supporting industrialisation in the region and creating an affordable offer.

Autochek is an automotive technology development company that is building the infrastructure to make car ownership more accessible and affordable in Africa.

With active operations in nine countries across East, West and North Africa, a partner-led retail footprint in over 1,500 dealers and workshop locations, and more than 70 banking partners.

Autochek is constantly 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.