Automotive technology firm Autochek has launched a new arm of the business that will focus on providing a range of vehicle financing solutions for consumers and businesses across Africa.
Autochek Financial Services, headquartered in Johannesburg in South Africa, will continue to support Autochek’s Marketplace platform. The platform partners with car dealers and other service providers to help consumers and businesses finance their vehicles.
Led by CEO Johan van der Merwe, it will also support car dealers, financial institutions and other stakeholders in Africa’s automotive ecosystem. It will look to improve credit decisioning, collections, pricing, portfolio management as well as product development.
Since launching in 2020, Autochek has processed more than 80,000 car loan applications for consumers and businesses across nine countries in North, West and East Africa. It has worked alongside more than 70 financial institutions and over 2,000 dealerships.
According to Etop Ikpe, group CEO and co-founder of Autochek, it wants to “empower more Africans with seamless access to vehicle financing”. He said it looks forward to “delivering more solutions to bridge the affordability gap and make it easier for more Africans to purchase the vehicles they want”.
Johan van der Merwe adds: “There is a great opportunity to drive shared value for consumers, manufacturers, financial institutions and other stakeholders by unlocking financing and I strongly believe that we can build the infrastructure to make this happen.
“Etop and the team have done a lot of outstanding work to deliver the success Autochek has seen to date and I am looking forward to working with them to deliver more success and more growth across the continent’s automotive sector”.
