Nigerian Autochek acquires majority stake in Egypt’s AutoTager

Nigeria’s Autochek, automotive technology development company has announced on Wednesday the acquisition of a majority stake in AutoTager, an Egyptian automotive start-up founded in 2021 to deepen its presence in North Africa.

It builds solutions aimed at enabling and enhancing commerce within the automotive sector. The firm was established in 2020 and expanded its presence across various African regions, including Kenya and Uganda for instance.

AutoTager is a venture-backed start-up, founded by Amr Rezk, which employs technology solutions to improve their operations. AutoTager enables easier access to vetted vehicles and financing for consumers, and connects dealers with serious buyers.

Olajide Adamolekun, co-founder of Autochek commented on the deal saying the two companies shared many similarities.

“We are looking forward to building on these parallels to deliver more growth and success in the… years to come,” Adamolekun added.

“Autochek has deep automotive expertise and brings… several all-weather strategies that have been tested and validated in multiple complex high growth markets,” Rezk commented.