Autochek, an automotive technology company has announced the acquisition of a majority stake in AutoTager, an Egyptian automotive company to deepen its presence in North Africa.
Autochek made the disclosure in a statement on Tuesday in Lagos.
It said that AutoTager was a venture backed startup that was removing the friction from the car buying and selling process in Egypt.
According to the statement, the company enabled easier access to vetted vehicles and financing for consumers, and connecting dealers with serious buyers and technology solutions to improve their operations.
It said that the acquisition represented Autochek’s entry into Egypt, which was Africa’s second largest economy and the continent’s second largest automotive market.
Autochek said the country’s strategic geographical position, skilled workforce, large domestic market and the successful reforms undertaken by the country’s government in recent years had enabled dynamic growth and made it one of the largest…