An Ivorian startup called Auto24 purchases Kupatana in Tanzania subsequent to its growth into Senegal, Morocco, and South Africa. The corporation would pay $71,900 in cash on the closing day, which is, as you should know, unreported, according to the source of this event.
Auto24 Acquires Tanzania’s Kupatana
Launched by Africar in September 2022 in partnership with Stellantis, Auto24 is an online automobile marketplace that is rapidly expanding throughout Africa. In2023, Auto24 plans to expand its operations into Morocco, Rwanda, Senegal, and South Africa following its original launch in Abidjan, Côte d’Ivoire. Just one year after the company’s founding, this expansion marks a significant growth stage.
Auto24 sets itself apart by providing insurance, warranties, and a thorough 150-point vehicle inspection. More than 20 different auto brands are available for viewing on the platform, including BMW, Ford, Honda, Hyundai, Isuzu, Jeep, Kia, Mitsubishi, and Nissan. Potential purchasers can see these cars in person at Auto24 dealerships, even though the prices are set and cannot be negotiated.
Auto24 Plans To Establish a Public Electric Vehicle Charging Station in Abidjan
In an effort to promote environmentally friendly transportation, Auto24 stated in December 2022 that it would be collaborating with EV.Tech, a local business that specializes in electric vehicle charging solutions, to open a public electric vehicle charging station in Abidjan, Côte d’Ivoire. This project highlights how important environmentally friendly transportation solutions are becoming throughout Africa.
Africa’s Automotive Market
Africa has a significant automobile market; just 1% of all cars worldwide are owned by the 50 million or so cars that currently reside on the continent. At 40%, it does, however, constitute a sizeable share of the global market for imported secondhand cars. By 2029, the $40.45 billion used car market in Africa is expected to reach $61.24 billion.
Tanzania offers a potential market for used automobiles, with a population of about 65 million and a GDP growth of 6.3% predicted by 2024. By 2029, the $38.50 million used car market in Tanzania is projected to grow to $55.66 million. Auto24 intends to take advantage of this opportunity by acquiring a business and launching in Tanzania in 2024.
What You Should Know About the Tanzanian Brand Kupatana
In December 2021, Kupatana, a Tanzanian company that was among the first to offer classified ads in the nation, joined with ZoomTanzania, a Roam company, to form a new online marketplace. These platforms’ marketing and operating rights were purchased by Euroafrica Digital Ventures.
ZoomTanzania and Kupatana each had 87,000 and 62,000 listings at the time of their merger, respectively, with an average of 500,000 monthly views. Through this acquisition, Roam leaves the East African classified markets, making room for Auto24 to join Tanzania’s market.
