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

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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.

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Again, Starlink raises prices of its services in Nigeria

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Elon Musk’s satellite internet service provider, Starlink, has again jacked up the prices of its services in Nigeria after an earlier increase caused uproar among customers.

The service provider, in a statement released on Friday, informed its Nigerian customers that it would raise its monthly subscription prices, with the new rates set to take effect on January 27, 2025.

Under the new pricing regime, the lowest subscription tier will increase significantly from ₦38,000 to ₦75,000 per month, while mobile global roaming service will now cost ₦717,000 monthly.

The company stated that new subscribers will immediately pay the adjusted prices while existing customers will see the changes reflected in their upcoming bills.

In an email sent to users, Starlink said:

“To continue enhancing the Starlink network and provide reliable, high-quality service across Nigeria, we are adjusting our monthly subscription prices.

“These changes are part of our ongoing commitment to investing in the infrastructure needed to improve your experience with Starlink.”

This is the second time Starlink has attempted a price hike in Nigeria. The Nigerian Communications Commission (NCC) has rejected its previous increase in October on the grounds that the company had not sought the necessary regulatory approval.

However, insiders believe the NCC is set to approve an increase in the first quarter of 2025, which gives credence to insinuations that Starlink may have gotten an approval for the price increments.

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Safaricom Ethiopia launches 4G network in Gambella

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Ethiopia’s second largest telecom provider, Safaricom Telecommunications Ethiopia P.L.C., has announced the official launching of its 4G network services in Gambella and other surrounding areas.

The launching of the 4G network in the region, according to Safaricom Ethiopia CEO, Wim Vanhelleputte, highlighted the significant impact that enhanced telecommunications infrastructure could have on the region’s social and economic progress.

“In line with our commitment to digital education, Safaricom Ethiopia donated 20 laptops and 4 routers, including six months of free internet, to two high schools in Gambella City, supporting digital literacy and educational opportunities for local students,” Vanhelleputte stated.

Vanhelleputte reaffirmed Safaricom Ethiopia’s commitment to expanding its reach and ensuring that more regions gain access to reliable and high-speed internet.

“The introduction of the 4G network in Gambella is designed to deliver significant advantages to the local community,” he said .

“Enhanced connectivity will open doors to better access to information, education, and healthcare services. Additionally, it will create new opportunities for businesses and entrepreneurs, driving economic growth and development within the region.

“Safaricom Ethiopia’s move into Gambella aligns with its broader strategy to extend 4G coverage to more areas, furthering its mission of fostering nationwide connectivity,” the CEO added.

Alemitu Oumud, President of the Gambella Region who also spoke at the event, stated that, enhanced infrastructure is driving positive social and economic growth in our region.

“We commend Safaricom Ethiopia for its contributions to job creation, improving connectivity, and making Gambella a more attractive destination for investment,” Oumud said.

He stressed the potential of the new 4G network to drive business activities, attract investments, and foster entrepreneurship in the region.

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