Tech

Nigeria’s Autochek acquires majority stake in Egypt’s AutoTager

Published

1 year ago

April 19, 2023

Nigerian auto-tech platform, Autochek has made further incursions into the North African market after announcing that it has acquired a majority stake in Egyptian car-sale startup, AutoTager.

Autochek, which has placed itself as one of the best run auto-tech companies in Africa, made similar expansions last year when it bought over Moroccan auto marketplace, KIFA Auto.

Before then, Autochek had
acquired CoinAfrique, a classified ad marketplace focuse on the Francophone African market, along with other startups including Cheki Kenya and Cheki Ghana.

While announcing the acquisition of AutoTager, an automotive technology company that makes it easier to find and buy cars, the Group CFO and co-founder of Autochek, Olajide Adamolekun, said the platform which was founded in 2020, was “moving to deepen its presence in North Africa and the acquisition is meant to support the company’s ongoing growth.”

“The acquisition of AutoTager is yet another demonstration of AutoChek’s intention to gain prominence in the continent. AutoTager was founded in 2021 by serial entrepreneur Amr Rezk,” Adamolekun added.

“AutoChek’s entry into Egypt is made favorable by its geographical position, skilled workforce, and a large domestic market.

“Amr’s background and track record is as impressive as it gets and I am delighted to have him on board.

“His experience will be invaluable as we enter the Egyptian market and continue on our mission to improve the automotive finance value proposition on the continent and catalyze more growth across the automotive ecosystem,” he concluded.

AutoChek currently has a presence in nine countries across East, West, and North Africa, and partners with over 2,000 car dealers and more than seventy financial service providers.

Related Topics:Auto-Tech Autochek AutoTager Egypt Featured North Africa Startup

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Tech

RepAir, Cella partner to launch carbon capture in Kenya

Published

2 days ago

April 27, 2024

Akanimoh Etim

Global Direct Air Capture (DAC) firm, RepAir, has entered into a partnership with carbon storage technology company, Cella, to launch a first-of-its-kind innovative Carbon Capture and Storage venture in Kenya.

In a statement on its website on Friday, RepAir said the venture will see a replication of its “cultivating partnerships” with storage firms in Europe, U.S. and Africa.

“This storage agreement will streamline the sale of high-quality carbon credits to off-takers, enabling corporations to meet evolving ESG standards, manage offsets and advance towards net zero goals,” the statement issued by RePAir CEO, Amir Amir Shiner, stated.

“Our solution sets a new standard, requiring only 600 kWh per ton of CO2 captured, marking the lowest energy consumption on the market.

“This agreement is perfectly aligned with the launch of our commercial demonstrator in 2025, empowering RepAir to offer high-quality carbon credits to our customers.

“It will see to the establishment of a storage partnership with Cella aimed at creating dedicated value chains for extracting CO2 from the atmosphere and permanently storing it underground through in-situ mineralization.

Corey Pattison, CEO, Cella, who also issued a statement on the partnership, said “by partnering with Cella at our first demonstration site, RepAir can capitalize on two critical resources: the potential for truly permanent, highly verifiable carbon storage via mineralization combined with Kenya’s abundant renewable energy sources.

“Together these resources provide a comprehensive solution for capturing and storing CO2 for off-takers. This collaboration represents an extraordinary opportunity to nurture mutual growth.”

Tech

Intel Liftoff Hackathon 2024 calls for applications from African AI startups

Published

3 days ago

April 26, 2024

Akanimoh Etim

Applications for the 2024 cohort of Intel Liftoff Hackathon has opened for African AI startups designed to bring together aspiring tech entrepreneurs, software developers, and AI enthusiasts to collaborate, innovate, and create solutions to concrete African challenges.

In its second edition, the hackathon welcomes pioneering early-stage AI startup teams from the African continent, delving into experiments with LLM technology, a statement on the website of the organiser stated.

It added that the Intel Liftoff Hackathon for African AI Startups, which will be held online on May 27-31, is themed “Hack and Connect”, and will take place in partnership with Modus Africa, University Mohamed VI Polytechnic, Morocco

Other partners include TUT Hub of Artificial Intelligence Institute of South Africa, Prosper Africa, UM6P Ventures, FAST Accelerator, Innov8 Technology Hubs, and Open Startups International.

“The hackathon will feature hands-on workshops that will allow learning of AI essentials; three days of challenges with mentors to test skills; exhibition opportunities to showcase startups and forge partnerships with industry leaders; and networking opportunities to engage with fellow startups and gain insights from domain experts in the AI ecosystem,” the statement said.

“Winners will be invited to join the Intel Liftoff for Startups programme, and receive unique mentoring sessions with ecosystem partners and marketing opportunities with blog articles,” it concluded.