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Nigeria: "Autochek" acquires the Moroccan company "Kifal Auto"

23/05/2022
Categories: Companies

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The Nigerian start-up "Autochek" acquires the Moroccan company Kifal Auto. The automotive technology specialist wants to accelerate its expansion in North Africa.

 

According to Nigerian news site TechCabal, this announcement comes about 7 months after Autochek acquired the Ugandan and Kenyan operations of Cheki, an online automotive marketplace, which initially acquired Cheki Nigeria, in 2020. Morocco is one of the most developed automotive markets in Africa, the Nigerian site points out, recalling that in 2021, car sales exceeded 160,000 units with more than 220,000 direct jobs created. The automotive industry is also expected to contribute 24% to Morocco's GDP by 2022. This expansion of the automotive market in Morocco is the result of development policies and investments in infrastructure.

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