With its most recent investment in TurnStay, the South African travel payment platform, which has just closed a $2M seed round, TAPSI has now deployed 50% of its capital.

TAPSI was launched in 2022 to extend TLcom’s investment reach to pre-seed stage companies, providing up to $200,000 in funding alongside access to the firm’s global network, operational expertise, and over two decades of experience in African venture investing.

The fund acts as an upstream feeder vehicle for TLcom’s core $154M TIDE Africa Fund II, enabling portfolio companies that perform well to progress to larger funding rounds.

In addition to Turnstay, the TAPSI portfolio currently includes Talstack [Nigeria], Bright Financial [Sudan and Ethiopia], Tradehub [Egypt], Agrails [Kenya] and three startups backed through its partnership with First Check Africa, which focuses on delivering early-stage capital to female founders.

Through TAPSI, TLcom expects to close on up to ten additional pre-seed investments before the end of 2026 and will continue to invest in diverse founding teams across Africa’s major innovation hubs.

Building on the investment approach of TLcom’s TIDE Fund I and TIDE Fund II, TAPSI is sector-agnostic and focuses on key sectors where TLcom sees strong early-stage potential for outsized impact.

Talstack’s journey demonstrates this approach in practice, leveraging its TAPSI pre-seed funding to validate its model and achieve early traction, culminating in a subsequent seed round from TIDE Fund II in 2024.

This dedicated pre-seed fund strengthens TLcom’s position as a multi-stage investor, reflecting the firm’s deep understanding of the funding lifecycle of the African tech ecosystem and the critical role early capital plays in setting African startups on a path to scale and create impact.

Eloho Omame, partner at TLcom Capital, says,

“Pre-seed investments allow us to expand our portfolio and allocate capital across multiple stages of a company’s lifecycle. Our goal is to create massive value in underserved markets and collaborate with African founders to build from the start all the way to exit; be it an acquisition or in the form of an IPO. This is by no means easy for any start-up, in any sector; building in Africa is not for the faint-hearted. However, the likelihood of success significantly increases if we support and work with founders earlier on in their journeys and we grow alongside them”.

TLcom boasts one of African tech’s most impressive early-stage portfolios, including Pula, uLesson, Autochek, FairMoney, Educatly, HUB2, ILLA, Littlefish, Seamless HR, and Andela – one of the continent’s tech unicorns.

With approximately $250 million under management, including the $154M TIDE Africa II, TLcom is dedicated to empowering ambitious entrepreneurs who are solving critical challenges in large, underserved markets.

Eloho Omame concludes,

“With TAPSI as a dedicated pre-seed arm of our investment platform, TLcom is uniquely positioned to back companies across their entire growth journey from ideation and product-market fit to scaling and maturity, reinforcing our role as a long-term partner to Africa’s most ambitious founders. As we progress with this fund, we look forward to speaking with and supporting more early-stage start-ups from across the continent”.

Since its Managing Partners made their first investment in Africa in 2013, 4DX has raised three institutionally backed funds, and the firm has approximately $200 million in assets under management.

In 2024, International Finance Corporation (IFC), a member of the World Bank Group, became a 4DX investor with a $10.5M capital commitment, demonstrating the firm’s ability to partner with best-in-class global institutions across multiple investor segments, including endowments, private equity firms, family offices and foundations.

The firm has built a reputation for backing bold, visionary entrepreneurs and supporting them with a high-touch, value-added approach to company building.

With investments spanning a range of industries, including FinTech, E-commerce, Embedded Finance, Creative Industries, Marketplaces, Climate and Edtech, 4DX focuses on companies that are shaping Africa’s digital future.

The portfolio includes category-defining companies such as Flutterwave, Andela, Autochek, Breadfast, MaxAB, Wasoko, mPharma, Thndr and Yoco.

Its portfolio companies operate in 22 African countries, with regional offices in Accra, Cairo and Nairobi, and an active presence in South Africa and Francophone Africa.

Alemayehou and Sekyi-Otu will support 4DX’s leadership team and portfolio founders, strengthening the firm’s global network and providing strategic counsel and mentorship.

Mimi Alemayehou brings deep experience from both the private and public sectors. She has held global executive roles at Mastercard, as well as managing director of the Black Rhino Group and Chair of Blackstone Africa Infrastructure LP.

A recognized leader in development finance, she served as Executive Vice President of the Overseas Private Investment Corporation (OPIC), the U.S. government’s development finance agency.

She also served as the U.S. representative on the Board of the African Development Bank and on the President’s Advisory Council on Africa Diaspora Engagement in the United States.  She held multiple Board positions, including at Twitter, U.S. African Development Foundation and FinDev Canada.

Kurankye Sekyi-Otu is an experienced leader in the alternative investment industry. He is the Founder & CEO of Capoeira Partners, a strategic advisory firm working with founder-led asset management firms, and previously served as Chief Strategy Officer at Polar Asset Management Partners, one of Canada’s largest hedge funds.

He also held senior roles at Mackenzie Investments and CIBC Capital Markets, with extensive experience in capital formation, business development, and institutional partnerships.

“The appointment of Mimi and Kurankye comes at a pivotal time for 4DX and our portfolio,” said Walter Baddoo, Co-Founder and Managing Partner of 4DX Ventures. “As more African technology companies scale globally, we’re excited to bring on world-class advisors with truly global perspectives and deep operational and investment expertise. Both Mimi and Kurankye are known for their roll-up-your-sleeves approach and will be instrumental in supporting our founders, deepening our global  institutional relationships, and contributing to our long-term strategy.”

Speaking of her new role, Mimi Alemayehou said:

“I’m thrilled to join 4DX and support the impactful work Walter, Peter, and the team are driving across the continent. This role is an exciting new chapter in my dedication to championing growth and development across Africa and emerging markets. 4DX has played a catalytic role in the African tech ecosystem, and I’m energised to bring my experience in development finance, technology and policy to help scale innovation, build strategic partnerships and deepen engagement with key stakeholders across sectors.”

Kurankye Sekyi-Otu added,

“4DX has built an impressive track record of investing in founders who create category-defining companies, tackle local challenges, and uplift their communities. Our immediate focus is to deliver deep operational insight that drives meaningful execution as 4DX scales and deepens its partnerships with world-class global institutions. I’m committed to activating a global network of operators, partners, and domain experts to support the firm’s continued growth and strategic evolution.”

4DX’s unique value creation model is institutionalized through 4DX Labs, its value creation arm designed to help portfolio companies succeed by providing hands-on support across product, marketing, data science, engineering, sales, business development, corporate development and fundraising.

This model has supported multiple strategic transactions, including Swarm Technologies’ acquisition by SpaceX, Tactyc’s acquisition by Carta, and the landmark merger of MaxAB and Wasoko — the largest tech merger in Africa to date.

As the firm looks ahead, 4DX is also exploring growth-stage investments and promising new categories such as the creative economy, where its regional expertise and network provide a strong competitive edge. Alemayehou and Sekyi-Otu will play a key role in advising 4DX and extending the firm’s influence in global capital markets.

Today, CREDICORP, in collaboration with Autochek, initiated a nationwide rollout of its second auto financing programme, delivering cars to a new wave of beneficiaries at a Handover Event in Abuja.

This marks a major step in expanding access to vehicle ownership. Owning a car is more than just a convenience—it’s a gateway to economic opportunity, independence, and higher quality of life.

Recall that CREDICORP has been providing highly discounted credit for brand-new locally-assembled vehicles of all types, through its Project S.C.A.L.E. (Securing Consumer Access for Local Enterprises) initiative. This will continue and remain highly discounted to support local industry.

However, the reality is that most Nigerians can only afford to purchase used cars. Recognizing this, CREDICORP has expanded its credit access to pre-owned cars through this partnership with Autochek, ensuring that more Nigerians can own cars with credit tailored to their financial realities.

The uptake of CREDICORP’s pre-owned vehicle financing initiative has been overwhelming since the offer opened on March 1, 2025.

So far, thousands of applications have been received from across Nigeria; the first 205 applicants successful through credit checks by the participating financial institutions are receiving their vehicles.

Today marks a significant milestone in CREDICORP’s commitment to expanding access to consumer credit for vehicle ownership. The wave of beneficiaries continues.

For many of the new car owners, this program is more than just a means of transportation—it’s a life-changing opportunity.

Amaka Okafor, a schoolteacher in Abuja, had relied on public transport for years, often struggling with long commute times and unreliable service.

“This car is more than just a vehicle to me—it’s freedom. I no longer have to worry about getting to school late or standing for hours waiting for a bus. I can now focus on my work and spend more time with my family,” she said, her voice filled with emotion.

Many other beneficiaries at the event echoed similar sentiments, emphasizing how access to credit is making mobility a reality for everyday Nigerians.

As part of President Bola Ahmed Tinubu’s Renewed Hope Agenda, the Nigerian Consumer Credit Corporation (CREDICORP) was established in April 2024 to drive economic inclusion and expand access to consumer credit for Nigerians.

CREDICORP achieves its mandate through three key pillars: first, infrastructure (by strengthening Nigeria’s consumer credit infrastructure, ensuring that every economically active citizen has a comprehensive credit score).

Second, capital (by providing wholesale funding and credit guarantees to financial institutions committed to expanding consumer credit access).

Lastly, by driving a cultural re-orientation—educating the public on responsible consumer credit and equipping institutions with more effective consumer credit underwriting strategies.

All this is to expand access to consumer credit to 50% of Nigeria’s working population by 2030.

With more than 10,000 vehicles set to be financed in the coming months, CREDICORP is not just enabling car ownership—it is unlocking better lives for Nigerians across the country.

How to apply

• Visit autochek or credicorp 

This collaboration has disbursed over ₦4 billion in loans since its inception in August 2024; empowering numerous individuals to purchase their desired vehicles.

With approximately ₦1 billion in deals that are currently being processed, the partnership is poised for continued growth and impact on the Nigerian automotive landscape.

This vehicle-financing collaboration combines Stanbic IBTC Bank’s extensive financial expertise and network with Autochek’s cutting-edge technology platform and robust dealer distribution network; streamlining the car-buying process and making it more accessible and affordable for Nigerians.

Speaking at the media parley held in Lagos to engage stakeholders in the industry, Olu Delano, executive director, Personal & Private Banking, Stanbic IBTC Bank, stated –

“We are incredibly excited about the tangible impact of our collaboration with Autochek. This partnership has significantly lowered the barriers to car ownership; making it a reality for many Nigerians. At Stanbic IBTC Bank, we are dedicated to providing innovative financial solutions that cater to the evolving needs of our customers. We are committed to the long-term success of this partnership and its contribution to the growth and development of Nigeria’s automotive industry.”

Mayokun Fadeyibi, chief operating officer at Autochek, highlighted the transformative nature of the partnership.

“Our collaboration with Stanbic IBTC Bank has revolutionised the car-buying experience in Nigeria. By leveraging technology and strategic partnerships, we have made car ownership more accessible, convenient, and transparent. We share Stanbic IBTC Bank’s commitment to driving growth in the automotive sector and look forward to expanding the reach and impact of this partnership.”

The car financing programme offered through this strategic alliance provides several key advantages for customers.

Highlights include competitive interest rates that enhance affordability, as well as flexible repayment plans.

With a swift and efficient application process, customers enjoy a smooth and convenient experience.

Additionally, Autochek’s platform and extensive dealer distribution network gives customers access to various vehicles, ensuring they can find the perfect car to meet their needs.

This successful collaboration underscores Stanbic IBTC Bank’s unwavering commitment to providing innovative financial solutions that empower its customers and contribute to Nigeria’s economic growth.

The partnership with Autochek epitomises this commitment by simplifying access to essential assets and supporting the development of the automotive industry.

The headline session will feature a fireside conversation with Julia Collins, who will share valuable insights on her experience as a successful serial tech entrepreneur. The event is expected to be the largest gathering of women in tech in Africa.

With the current global macroeconomic environment in mind, the theme for the 2023 Africa Tech Female Founder Summit is Building Resilience: Adapting to New Realities, which addresses head on the challenges African founders and operators are currently facing, as well as providing timely and practical advice and support from experienced global and African business leaders.

Julia Collins, the first black woman to build a unicorn, will give this year’s keynote, as well as host a masterclass session on Getting to Product Market Fit.

Julia is now building Planet FWD, a leading decarbonization platform for consumer companies.

She will be joined on the day by Cikü Mugambi [Kobo360], Enas Siam [FlexStock], and Thomas Njeru [Pula], who will hold a panel on “When the going gets tough”, whilst Tokunbo Ishmael [Alithea Capital] will discuss the Importance of Investing in Women.

In addition, this year, the Africa Tech Female Founder Summit will host a number of masterclasses held by TLcom Partners such as Eloho Omame, as well as a special focus on Building and leveraging Networks by leading Executive Visibility expert Glory Edozien.

Having hosted the summit with 150+ African female founders and operators in Nairobi in 2022, this year sees the event move west to Lagos, Nigeria.

Applications to attend the event are now open.  

Speaking on the upcoming event, Omobola Johnson, Senior Partner at TLcom Capital, says,

“2023 has been a challenging year for founders across the continent, so this year we will be gathering our community of women in tech in Africa to share experiences, learn from experts in their fields and develop coping tactics that will help build resilient businesses to weather this current climate. We want to discuss in depth what resilience means and how it can be infused into businesses, their leaders, and their teams.” 

Andreata Muforo, Partner at TLcom Capital, adds,

“At this year’s Africa Tech Female Founder Summit, we will not only be discussing business survival but also business growth; there are opportunities for founders, even during more turbulent economic times. We’re excited to be hosting the continent’s largest gathering of women in tech, bringing some truly experienced and inspiring speakers to the table. We want all attendees to leave with not only a vision and renewed sense of community support but also with actionable insights that will benefit their businesses”.  

TLcom’s TIDE Africa Fund II, which is one of the most active funds across Africa, boasts a leadership team which is 60% female.

The firm has actively supported female founders not only through its annual summit but notably through its track record of investing in some of Africa’s top female-led startups, such as Okra and Pula. In 2022, TLcom also doubled down on its drive to address the severe funding gap for Africa’s female tech entrepreneurs with a co-investment commitment to support the launch of FirstCheck Africa’s debut fund.

Currently, TLcom manages total commitments of approximately $350mn and holds several African startups in its portfolio, including Andela, Ajua, Autochek, Ilara Health, Kobo360, Okra, Pastel, Pula, Seamless HR, Shara, Terragon Group, Twiga Foods, uLesson and Vendease.

With an on-the-ground presence in Kenya and Nigeria as well as offices in the UK, the firm invests across all stages of the venture capital cycle with a focus on Seed and Series A.

TLcom also invests across a wide range of industries, including agriculture, education, fintech, data analytics and logistics, targeting high-growth, tech-enabled startups across Africa.

Cars are central to how Nigerians live and work. However, recent economic headwinds have pushed many businesses and individuals to prioritise affordability when considering the cars they would like to purchase.

From the ongoing situation with access to foreign exchange and inflation to subsidy removal and other headwinds, these developments have impacted the cost of owning and maintaining vehicles in Nigeria and more Nigerians are exploring new ways to manage the situation more efficiently.

Financing presents a viable option for making car ownership more accessible and affordable, for alleviating various transportation challenges and impacting the whole value chain including dealers, workshops, SMEs, and ultimately the consumer.

V Bank is committed to helping its customers achieve their desires and create wealth, and it is on a mission to become the number one provider of microfinance solutions for businesses and individuals in Nigeria.

With this partnership, businesses and individuals will now be able to access the bank’s market-leading financing options when they apply for financing for their chosen vehicles.

They simply need to find the vehicles they want to purchase on Autochek’s online marketplace or via a dealer in the company’s extensive network, submit an application for financing and they will be able to choose the V Bank option once their application has been approved.

With a 30 percent equity contribution to the value of the new car and affordable monthly repayments, customers will also be able to access insurance, registration, maintenance, and other value-added services from accredited Autochek partners.

Similarly, Autochek has built the infrastructure to drive the penetration of auto financing across Africa, powered by a data analytics engine that makes it easier to offer credit for automotive purchases. Customers can get instant financing offers once the necessity criteria have been met.

With operations in 9 countries across East, South, West, and North Africa, more than 70 banking partners, and a partner-led footprint of more than 2,000 dealers and workshop locations, the company has unrivaled access to insights on vehicle-related transactions that positions it to develop effective solutions for the continent’s automotive ecosystem.

Commenting on the partnership Mayokun Fadeyibi, COO at Autochek Marketplace, said “Vbank’s commitment to providing affordable financing aligns perfectly with our mission to drive the penetration of car financing across the continent, and we are excited to deepen our relationship with this collaboration. With our combined expertise, I am confident that we will be able to connect more customers to the financing they need to access the vehicles they desire, which should in turn catalyze more growth across the automotive sector and the economy at large.” 

Commenting on the partnership between Vbank and Autochek, the MD, Gbenga Omolokun said:

“At Vbank, our mission has always been to empower and uplift our customers and we are guided by the core principles encapsulated within our brand positioning “Enabling you to achieve”. ACHIEVE is an acronym which captures our key focus areas with the letter V symbolizing Vehicle/Mobility.

This partnership with Autochek will bring forth a wave of opportunities for businesses and individuals alike, stimulating economic growth and driving progress across Nigeria. With Vbank’s financing options, a 30 percent equity contribution, and affordable monthly repayments, we aim to not only ease the burden of car ownership but also impact the entire value chain, benefiting dealers, workshops, SMEs, and, most importantly, the consumers we serve.”

Autochek, the automotive technology company making car ownership more accessible and affordable across Africa, has acquired a majority stake in AutoTager,an Egyptian automotive technology company that makes it easier to find and buy cars, to deepen its presence in North Africa and support the company’s ongoing growth.

AutoTager is a venture backed startup that is removing the friction from the car buying and selling process in Egypt, enabling easier access to vetted vehicles and financing for consumers, and connecting dealers with serious buyers and technology solutions to improve their operations.

The company was founded in 2021 by Amr Rezk, a serial entrepreneur that has founded and co-founded multiple successful companies, including Fundseer, a leading private equity GP/LP coordination platform. Amr has deep experience operating in and investing in various geographies across Africa and the Middle East, with a track record of building and sustaining high growth enterprises.

Prior to becoming an entrepreneur, Amr worked with several large institutions including Goldman Sachs, EFG-Hermes and the Qatar Investment Authority where he led the Private Equity and Venture Capital Funds Investments Team.

He has an academic background as an economist and holds an MBA from Harvard Business School.

The acquisition represents Autochek’s entry into Egypt, which is Africa’s second largest economy and the continent’s second largest automotive market.

The country’s strategic geographical position, skilled workforce, large domestic market and the successful reforms undertaken by the country’s government in recent years has enabled dynamic growth and made it one of the largest recipients of Foreign Direct Investment (FDI) in Africa over the past decade. 

This acquisition also represents the third for Autochek in less than a year and the sixth in under two years, reflecting its emergence as the leading Pan-African automotive technology company.

The company now has active operations in 9 countries across East, West and North Africa, with a partner-led footprint of more than 2,000 dealers and workshop locations.

This unrivalled footprint enables unparalleled insights into vehicle-related transactions and positions Autochek and its subsidiaries to deliver effective solutions for the needs of a wide range of stakeholders in Africa’s automotive ecosystem.

Commenting on the acquisition, Olajide Adamolekun, Group CFO and co-founder of Autochek, said, “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 catalyse more growth across the automotive ecosystem. There are many parallels between Autochek and AutoTager, and we are looking forward to building on these parallels to deliver more growth and success in the months and years to come.”

Amr Rezk, CEO and Founder of AutoTager, said, “We are thrilled to partner with Autochek to pursue several sizable and unique opportunities in the automotive space. Autochek has deep automotive expertise and brings a proven playbook and several all-weather strategies that have been tested and validated in multiple complex high growth markets. The company’s track record of concurrently operating various business models in the automotive space is stellar and provides us with a wide menu of options and cutting-edge tools to offer AutoTager’s customers a truly unique proposition. We have very exciting plans and are confident that the global OEM and financing partnerships that Autochek has secured will also provide us with differentiated access allowing us to lead in our space while targeting high quality top decile returns”.

Robert has over two decades of global experience in leading and growing technology companies focused on providing solutions for the automotive industry value chain. He is currently CEO of CloudOne, a marketing company that helps auto dealers find and engage customers.

He was Senior Vice President and General Manager at DealerTrack Technologies, where he led various units, including the finance and lender networks, inventory management and transportation, CRM, and independent dealer websites.

Post the acquisition of DealerTrack Technologies by Cox Automotive Inc., the global leader in providing automotive solutions, he served as Senior Vice President, Strategy, at Cox Automotive, where he performed assessments of new growth opportunities, expansion of current business offerings, and effectiveness of current products and services.

He served as Operating Partner at SNH Capital Partners, where he was CEO of the Automotive Portfolio which comprised of National Credit Center, the leading provider of comprehensive data, software and marketing solutions to US dealerships and ProMax, the leading software provider to retail automotive dealers, offering award winning CRM, desking, website, credit, and lead generation solutions.

He was also CEO of MAX Digital, a leading automotive inventory management and merchandising platform, supporting the company through a successful exit in 2021.

He will bring this vast experience to Autochek, supporting the integration of the Pan-African automotive industry to drive shared value for consumers, manufacturers, financial institutions and other stakeholders.

Autochek provides best in class technology and advisory solutions to car dealers, financial institutions and other stakeholders in Africa’s automotive ecosystem, supporting them to improve credit decisioning, collections, pricing, portfolio management and product development, as well as deliver an enhanced customer experience.

Since launching in 2020, Autochek has driven the penetration of auto-financing across Africa, enabling more consumers and businesses across North, West, East and South Africa to access financing solutions to purchase their desired vehicles. In less than two years of operations, the company has worked with more than 70 financial institutions and more than 2,000 dealerships to process more than 80,000 car loan applications. Leveraging the vast reach of its online marketplace, the company originates auto loans powered by data analytics that makes it easier for financial institutions to offer credit to consumers.

Etop Ikpe, CEO of The Autochek Group, said, “We are excited to have someone of Robert’s calibre on our board with his vast experience from the most advanced automotive markets in the world. He has played a major role in building many successful automotive technology companies and we are looking forward to leveraging his experience to support our continued growth as a company.

Robert Granados said, “There is a great opportunity to transform lives and livelihoods across Africa by making car ownership more accessible and affordable, and I am thrilled to be supporting Etop and the team to make this happen. Autochek has achieved so much success in a short period of time and I believe there is so much more to come.”

Internationally, young Africans are cutting their teeth and putting smiles on the faces of people back home with their dexterity in the booming entertainment industry and the recognition that comes with it. The same can be said of sports and fashion; Africans are taking the lead.

Africa is home to many natural resources like oil, gold, diamonds, and ores; such that many technology giants like Apple Inc. rely on Congo’s supply of tantalum, tin, tungsten, and gold; the metals that are used in smartphones, batteries, and laptops.

Even though this implies that Africa has enough resources to supply the world, a new order is fast taking the place of natural resources – DIGITAL TECHNOLOGY.

The digital tech ecosystem in Africa is on an onward movement; it is a moving train that cannot be stopped because, despite the odds that Africa has been faced with, youths, comprising 70% of the continent’s population, are changing the face of several sectors, including banking and finance, health, education, agriculture, hospitality, and so on, with innovations that were not available about a decade ago.

This new order is changing the way we approach life and, gradually, digital technology is becoming the new gold, diamond, and even oil that we, as a people, have relied on all these years to generate revenue and drive our economies.  We hear and believe data is the new oil.

According to Techspace Africa, Disrupt Africa, and Rwanda’s The New Times, African startups passed the US$2 billion mark in investment for the first time, up from US$701,460,565 achieved the previous year. The number of funded startups grew by 42.1 percent in 2021 despite the terrible effect of the COVID-19 pandemic on the global economy in 2020.

This result indicates the many positives that the industry is set to achieve in the near future, just as the industry is projected to record significant growth, estimated at $712 billion by the year 2050.

Despite the interest of young Africans in the digital tech startup ecosystem, there are factors posing threats to existing and emerging startups in Africa. But as we say, even in our most challenging times, WE MOVE.

The Nigerian Angle

Nigeria has one of the continent’s fastest-growing startup ecosystems, according to StartupBlink‘s ranking of Africa’s top tech ecosystems in its Global Startup Ecosystem Index, 2021.

Like in music, sports, and many other sectors, Nigerian youths are dominating the digital tech space, ranking Nigeria as one of the countries that are tackling problems in these sectors through innovative solutions made possible by the adoption of technology.

With the success stories of Andela, Autochek, Kuda Bank, ULesson, Bloc, and several others already written on the pages of history, the Nigerian digital tech startups are faced with myriads of challenges from electricity to funding, internet penetration to regulation. But each time our resolve is tested, we always find a way to surmount the challenge; that is the hallmark of being a Nigerian.

Roadmap to Glory

No doubt, Nigeria has the potential to be a world leader in the digital tech ecosystem. But to achieve this, we must lay a solid foundation, and this begins by having not just a peripheral but deeper knowledge of what digitization is, the benefits thereof, and the infrastructure needed to achieve digital transformation.

Simply put, digitalization is the utilization of technology to enhance our daily activities such that difficult operations across various sectors are much more simplified. The transformation in the Nigerian banking system is an example of the importance of digitalization and the advantages that come with it. Today, you can perform banking transactions from the comfort of your home or on the street.

Infrastructure, on the other hand, is the technology hardware, network resources, and services that are required for us to achieve the objective of a digital society. They include network equipment like routers, computing hardware such as servers and basic software, facilities like data centers, computing and application platforms, and more.

Having stated the above, a digital economy is important, but having the infrastructure to power this is much more important.

The application of Artificial Intelligence (AI), accelerated wireless connectivity, and the spread of relatively inexpensive computing systems mean that the tech ecosystem can offer a faster and more efficient world for businesses and other activities that will improve the Nigerian business environment as many companies have adopted the use of digital technology.

At this point, it is crucial to note that while startups see their innovations as disruptions, policymakers in the system may see these innovations as displacements. This implies that the innovations of startups are here to enhance productivity, provide further solutions, and make life generally easier; which adds and should not subtract.

But policymakers may perceive the strides of these startups as displacing already existing structures and functioning paradigms.

The key to ensuring that these paradigm shifts do not lead to a dysfunctional ecosystem or adversely impact the economy is that both practitioners and policymakers within the ecosystem engage and collaborate to develop dynamic policies and regulations that will increase innovation whilst managing the potential displacement.

The above is why founders and other tech enthusiasts should play an active part in governance. This is because the Nigerian digital tech space must get true representation at the highest level of governance and make room for the passage of laws that will cause it to continually thrive.

An example is the Nigeria Startup Bill (NSB) that was recently passed by the National Assembly.

The Bill will ensure that Nigeria’s laws and regulations are clear, well-planned, and beneficial to the tech industry. It will also help create an enabling environment for growth and attract and protect investment in the tech space. Key to its success would be the quality of implementation and complete sub-national adoption. 

A digital economy is driven by a technologically exposed society where every man, woman, and child is tech-savvy. We need to review our school syllabuses at the elementary, secondary, and tertiary levels and even in the mandatory one-year youth service corps (NYSC).

We need to ensure that at the elementary level, which is the foundation of all learning, computer science is integrated because if we succeed at creating computer whizzes at the foundation level, then we will have succeeded in birthing a generation of people that will transform our entire existence and redefine life through technology. 

ALSO READ: [EXPLAINER] 10 Components of the Nigeria Startup Bill 2022

Therefore, the foregoing guarantees that every Nigerian, even those in our villages, will adopt technology and technology-driven teachings that will make Nigeria an advanced nation in the near future.

Every step we take to fix the deficiencies in the ecosystem pushes us to a world of possibilities, where the next big global tech solutions will come from a Nigerian village in Edo, Ekiti, Imo, Benue, or Katsina State. We will not just have smart cities but rather smart villages where integrated technology will create smart schools that will foster quality teaching and learning.

Local markets will be open to the international market because the world is now a global village due to technology integration into our villages.

This will improve the economy of our people and eradicate poverty, which has been a longstanding issue in our society. The level of societal digitization will become the new global poverty line. 

The African digital tech ecosystem will spark the continent’s transformation and build giants among our nations such that our villages and critical sectors will be powered by technology. From Karu village in Nigeria to Akrofu village in Ghana; Doumga, Senegal; Kayonza, Rwanda; Massai, Kenya; Megdaz, Morocco; and Shakaland Zulu village, South Africa; the world is not ready for what Africa is about to unleash on the global tech ecosystem.

Africa is the future the world is waiting for. You have a part to play!

End

The goal is to accelerate penetration of Autochek’s auto financing services in Senegal, Côte d’Ivoire and other French-speaking African countries.

Founded in 2016 by Matthias Papet and Eric Genetre, with a presence in Côte d’Ivoire, Senegal and 10 other French-speaking African countries, CoinAfrique has grown to become the number one classified marketplace for Francophone Africa, enabling businesses and individuals to seamlessly buy and sell vehicles, electronics, real estate and other goods. 

The CoinAfrique app has been downloaded more than 2 million times, with 800,000 monthly active users and 60,000 new ads per month. 

The website receives more than 1.5 million visits per month. With 50 percent of the business transacted on the CoinAfrique platform happening in the automotive category, this acquisition will simplify the process for more French-speaking Africans to access financing and other value-added services for their vehicles. 

CoinAfrique’s wider classifieds business will continue to operate across the various product categories, with a deep integration of Autochek’s auto financing product to drive access to credit for automotive purchases. 

Francophone Africa is home to many of the fastest growing economies on the continent, as well as and the fastest growing brand new car market – Côte d’Ivoire. It is also home to Senegal which is projected to be the fastest growing economy in Africa by 2023. 

With this acquisition, Autochek will be well positioned to leverage CoinAfrique’s extensive database across Francophone Africa, facilitating auto financing for consumers and SMEs in the region and enabling purchase of desired vehicles. It will also support further integration of the Pan-African automotive industry to drive shared value for consumers, manufacturers, financial institutions and other stakeholders.

Autochek is building the financial infrastructure to drive the penetration of auto financing across Africa, powered by a data analytics engine that makes it easier for financial institutions to offer credit to consumers. 

It has existing operations across North, West and East Africa (Nigeria, Ghana, Morocco, Côte d’Ivoire, Kenya and Uganda), a partner-led retail footprint in over 1,500 dealer and workshop locations, and more than 70 banking partners including Access Bank, BNP Paribas, Ecobank, UBA, Bank of Africa and NCBA Bank. 

According to Etop Ikpe, CEO and co-founder of Autochek: “Matthias and Eric are pioneers of the classifieds model in Africa and they have built an outstanding platform with many significant partnerships with car dealers, fintech platforms and other stakeholders in the Francophone automotive sector. They are joining the Autochek family with many years of business and infrastructure development experience across Europe and Africa and we are looking forward to leveraging their expertise to improve the automotive finance value proposition across the continent.” 

Matthias Papet, CEO and co-founder of CoinAfrique, said: ”We are excited about the opportunity to drive the penetration of auto financing across Francophone Africa and to support the wider mission across Africa. We see many opportunities to unlock value for users across all the categories on our platform and to expand into new countries, and we are looking forward to leveraging Autochek’s market leading loans product and expertise to deliver more transformative experiences for our users.”

The CoinAfrique team will join Autochek and will support the mission to make car ownership more accessible and affordable across the continent.

The acquisition, as well as the recent acquisition of Morocco’s KIFAL Auto, is among Autochek’s strategies to double down on its Francophone focus to replicate the successes achieved so far in the English-speaking West Africa and East Africa region, as local teams are empowered to build for the nuances of their specific markets.