Any step taken to provide additional financial solutions in Africa should be strongly supported. This is to imply that auto financing, which entails offering simple access to automobile loans to those in need and allowing them to pay overtime, is a fantastic concept that could help reduce mobility poverty while also providing more employment possibilities.
Highlighting Autochek Africa…
Autochek is an auto tech startup company that intends to create digital solutions that will strengthen the streamlined automotive commerce process across Africa by utilizing technology, data, insights, and expertise to deliver affordable automobile loans to suppliers and buyers.
This company was founded in October 2020 and currently has Etop Ikpe operating as the CEO, Timi Tope Ologunoye as the COO, and Chetan Seth as the CTO.
Autochek is presently regarded as the leading auto tech platform, with operations covering West and East Africa in five countries -Nigeria, Kenya, Ghana, Uganda and Cote d’Ivoire, a partnership network of over 1,200 workshops and dealers, and over 70 financial institutions certifying and disseminating car loans on the platform.
Customers can access these car loans within 24 hours through their website and mobile app; funding options from over 70 banks with favorable terms, including a 15% interest rate on brand new cars and trucks with repayment durations of up to 60 months and the lowest interest rates in the industry.
Autochek has developed in-house digital solutions such as Collateral Management, Dealer Management Systems, and a specialized CRM system to handle stakeholder activities such as car finance, inspection, appraisal, and inventory management. They essentially provide services that would aid in the promotion of the digital infrastructure for a new system that can effectively integrate and preserve car records in the automobile market.
The Autochek mobile app is currently available on Android and is due to be launched soon on iOS.