Auto chek, a company that makes it easier and more affordable to own a car in Africa, has announced the launch of Autochek Financial Services, a new part of the business that will focus on offering consumers and businesses across the continent a range of vehicle financing options.
Autochek Financial Services will continue supporting Autochek’s Marketplace platform, which collaborates with car dealers and other service providers to make financing easier for individuals and companies.
It will also offer the best technology and advisory services to car dealers, financial institutions, and other players in Africa’s automotive ecosystem. This will help them make better decisions about credit, collections, pricing, portfolio management, product development, and customer experience, as well as improve credit decisions, collections, pricing, portfolio management, and product development.
Since it started in 2020, Autochek has made it easier for people and businesses in North, West, and East Africa to get the financing they need to buy the cars they want. In less than two years, the company has worked with more than 70 banks and more than 2,000 car dealerships to process more than 80,000 applications for car loans.
Using the broad reach of its online marketplace, the company makes auto loans using data analytics that make it easier for banks to lend money to people. With the launch of Autochek Financial Services, the company is now in a better position to speed up access to finance for Africans and improve the speed, structure, and pricing of auto-financing on the continent.
Autochek Financial Services will be headquartered in Johannesburg, South Africa. It will be directed by Johan van der Merwe, a financial services veteran with over 20 years of experience in risk, credit, and asset finance.
Johan served as the Chief Risk Officer at WesBank Motor, one of the largest providers of vehicle and asset financing in South Africa, and SA Taxi (a vertically integrated firm that offers insurance, financing and other services for the minibus taxi industry in South Africa) before becoming the CEO of Autochek Financial Services.).
He will lead a team of leaders with more than 60 years of automotive and eCommerce experience in Africa.
Etop Ikpe, Group co-founder and chief executive officer of Autochek, said, “Johan brings a lot of experience to Autochek Financial Services, and we’re glad to have him on board as we build the infrastructure to change the automotive business in Africa.”.
We aim to give more Africans easy access to vehicle financing and look forward to bringing more solutions to bridge the affordability gap and make it easier for more Africans to buy the automobiles they want.”
“There is a significant opportunity to produce shared value for financial institutions, manufacturers, consumers, manufacturers, and other stakeholders by unlocking finance,” said Johan van der Merwe, CEO of Autochek Financial Services, “I’m sure we can set up the right infrastructure to make this happen,
Etop and his team have done a fantastic job in delivering Autochek’s success to date. I look forward to working with them to create even more success and expansion across the continent’s automotive sector.”