👨🏿🚀TechCabal Daily – Kenya rules against Meta
Lire en français Read this email in French. 19 APRIL, 2023 IN PARTNERSHIP WITH Good morning Instagram is listening to its users. Yesterday, Mark Zuckerberg announced that Instagrammers can now add up to five links in their bio. This is great news for companies and SMEs who have to subscribe to third-party apps like Linktree in order to list more than one link on their pages. Not so great news for Linktree, though. In today’s edition Kenya rules against Meta Autochek acquires Egypt’s AutoTager Netflix to expand African operations The World Wide Web3 Opportunities KENYA RULES AGAINST META Kenya isn’t smiling with big tech companies. The Kenyan High Court has issued an order prohibiting Meta, Facebook’s parent company, from using any third-party content moderator company other than Sama to examine its platform’s content. The order comes after Meta disobeyed earlier orders to solely work with Sama as its content reviewer until the case about Sama’s working conditions was heard. Meta had gone against the order and employed unnamed “global partners” to handle its content moderation in sub-Saharan Africa. Sama’s poor working conditions: Last year, Sama was accused of treating its content moderators poorly and illegally firing some. Amidst these allegations, Sama announced that its agreement with Meta expired on March 31, 2023. It also shut down its content moderation division to focus on labelling—computer vision data annotation. Due to these changes, Sama planned to lay off over 200 moderators but hasn’t been able to do so due to court orders stemming from the lawsuits concerning its contract with Meta. So even though it has no content moderation going on, Sama is still paying its content moderators, which it claims have been on paid leave since April. A new player: Meta hired Majorel, a different content moderation company, to replace Sama. However, Meta can’t work with Majorel due to court orders to work with only Sama. The lawsuit also accuses Majorel of refusing to employ moderators who used to work with Sama. Majorel argues that this court decision would waste the investment they made in setting up a hub in Kenya in 2022. At the moment of writing this, Meta has not disclosed who its new content moderators are. So far, there’s nothing indicating Meta will not ignore this order the same way it disregarded the earlier one. WORK WITH MONIEPOINT At Moniepoint, we’re creating the best workplace for global talent using the 4M framework- Meaning, Membership, Mastery and Money. This isn’t an ad designed to convince you to join us, but it has all the reasons why you should. Watch it here. This is partner content. AUTOCHEK ACQUIRES MAJORITY STAKE IN EGYPT’S AUTOTAGER Autochek, a Nigerian automotive technology company, has acquired a majority stake in AutoTager, an Egyptian automotive technology company, as part of its expansion into Egypt. This marks Autochek’s second acquisition in North Africa, following its acquisition of Moroccan KIFAL Autos last year. It also marks Autochek’s sixth acquisition in the past two years as the company expands its presence across East, West, and North Africa. Egypt’s pressing need: Thanks to its strategic position and large population, there is a huge demand for cars and auto financing solutions in Egypt. In 2021 alone, over 215,000 cars were sold in Egypt, creating a wave of new jobs for the local workforce. AutoTager provides vetted vehicles, financing options, and technology solutions to connect dealers with buyers and improve its operations. Through this partnership with AutoTager, Autochek aims to provide Egyptians with the much-needed infrastructure to make car ownership more accessible and affordable for everyone. NETFLIX TO EXPAND OPERATIONS IN AFRICA Looks like subscription prices are not the only thing Netflix is increasing. The streaming giant has announced plans to also increase its presence in Africa, following the success of its local content production ventures in the region. According to a recently released impact survey report, Netflix claims to have invested €160 million ($176 million) in film content production in Africa since 2016, creating over 12,000 jobs in Nigeria, Kenya, and South Africa. For South Africa alone, the service has reportedly budgeted $63 million for 2022–2023. Africa is still watching: The expansion is expected to help Netflix establish itself as a dominant player in the African market, with the increasing demand for local content and rising competition from other streaming platforms. Zoom out: Netflix’s move to expand comes on the back of the success of its South African series Blood and Water, which achieved significant international acclaim in 2020, ranking first in the United States. EXPLORE FINTECH WITH TEMPLARS Join African law firm TEMPLARS an international law firm Clifford Chance for their tech roundtable Perspectives on Fintech in Nigeria. Explore the latest fintech trends with global investors, policymakers, and leaders. Register now for insightful discussions and networking. This is partner content. THE WORLD WIDE WEB3 Bitcoin $30,033 + 1.22% Ether $2,068 – 1.62% BNB $336 – 2.42% Cardano $0.43 – 1.78% Name of the coin Price of the coin 24-hour percentage change Source: CoinMarketCap * Data as of 06:30 AM WAT, April 19, 2023. Venture funding for Africa’s blockchain industry rose by 500% in 2022. A new report by CV VC and Standard Bank shows that startups in Africa employing blockchain technologies raised a total of $474 million in 2022, compared to $89.6 million a year earlier. Is a crypto-specific regulation coming to the UK soon? CNBC reports that the economic secretary to the UK treasury, Andrew Griffith, has noted that Britain is working on cryptocurrency legislation that may be implemented within the next 12 months. Israel’s central bank is presently exploring whether stablecoins and CBDCs can be useful. CoinDesk reports that the Bank of Israel is outlining scenarios where CBDCs and stablecoins would come into play in its society for both international and domestic use. IN OTHER NEWS FROM TECHCABAL SeamlessHR partners with Moniepoint to revolutionise payroll management. How digital identity can boost the African banking industry. OPPORTUNITIES The SaaS Accelerator Program: Africa 2023 has opened applications for its
Read MoreSeamlessHR partners Moniepoint to revolutionize payroll management
SeamlessHR, a cloud-hosted HR and payroll software provider, has partnered with Monnify by Moniepoint, a payment platform for Nigerian businesses. The partnership will offer Nigerian businesses the ability to seamlessly pay salaries and payroll remittances through Monnify. SeamlessHR users can now choose between disbursing salaries and pensions on SeamlessPayroll via Monnify, or continue with the current option of using Flutterwave. Deji ‘Lana, cofounder of SeamlessHR, believes that the startup is on its way to helping Nigeria businesses “pay their people on time”. “With the recent challenges faced in Nigeria by individuals and businesses in smoothly processing transactions and accessing funds, we decided to offer our customers more options to directly disburse salaries on SeamlessPayroll, helping them pay their people on time,” he said. He further explained that the startup is aimed at helping businesses across Africa optimise their various business processes, including how personnel were remunerated. Addressing a common wage problem The collaboration between Moniepoint and SeamlessHR is particularly beneficial to businesses because payroll management and salary disbursement are crucial aspects of business management that can significantly impact the employee experience. A survey conducted by the African Development Bank in 2014 found that over 60% of workers in African countries reported that their wages were paid late or irregularly, partly due to the lack of payroll systems. “Beyond paying employees well, it’s equally important to pay them on time. Staff depend on their salaries to fund their lifestyles, so if something affects that, it would definitely affect their ability to show up productively at work.” ‘Lana concluded.
Read MoreSeamlessHR partners Moniepoint to revolutionize payroll management
SeamlessHR, a cloud-hosted HR and payroll software provider, has partnered with Monnify by Moniepoint, a payment platform for Nigerian businesses. The partnership will offer Nigerian businesses the ability to seamlessly pay salaries and payroll remittances through Monnify. SeamlessHR users can now choose between disbursing salaries and pensions on SeamlessPayroll via Monnify, or continue with the current option of using Flutterwave. Deji ‘Lana, cofounder of SeamlessHR, believes that the startup is on its way to helping Nigeria businesses “pay their people on time”. “With the recent challenges faced in Nigeria by individuals and businesses in smoothly processing transactions and accessing funds, we decided to offer our customers more options to directly disburse salaries on SeamlessPayroll, helping them pay their people on time,” he said. He further explained that the startup is aimed at helping businesses across Africa optimise their various business processes, including how personnel were remunerated. Addressing a common wage problem The collaboration between Moniepoint and SeamlessHR is particularly beneficial to businesses because payroll management and salary disbursement are crucial aspects of business management that can significantly impact the employee experience. A survey conducted by the African Development Bank in 2014 found that over 60% of workers in African countries reported that their wages were paid late or irregularly, partly due to the lack of payroll systems. “Beyond paying employees well, it’s equally important to pay them on time. Staff depend on their salaries to fund their lifestyles, so if something affects that, it would definitely affect their ability to show up productively at work.” ‘Lana concluded.
Read MoreHow digital identity can boost the African banking industry
Noel K. Tshiani is the founder of Congo Business Network, which works with startups, corporations, and government institutions in the Democratic Republic of Congo with the goal of contributing to economic development. The organization put together a delegation made up of startups and government representatives to participate in the Africa Fintech Summit last week in Washington DC. Digital identity is a key enabler of financial inclusion and economic development. It can help to verify the identity of individuals, making it easier for them to access banking services, government benefits, and other digital services without having to visit a physical location. The digital revolution has brought numerous benefits to Africa, including access to internet services and online shopping. But the adoption and use of digital identity in Africa have been slow, hindering progress towards fully embracing the digital economy. The factors hindering this progress include: 1. High cost The cost of implementing and maintaining a digital identity system can be high, especially for governments and small businesses. Developing the system, collecting and storing data, and providing access to users can raise significant costs. Financial difficulties can be a major barrier for governments and businesses that are already struggling to pay other monthly expenses. 2. Lack of awareness and digital literacy Many people in Africa are not aware of the benefits of digital identity or how to use it and as such do not demand digital identity systems from their governments or businesses. And without demand, there is no pressure on governments and businesses to invest in digital systems and eschew paper-based documentation such as voter registration cards. Furthermore, many Africans lack the technical skills required to use digital identity tools effectively. As such, education and training programs are needed to ensure that people are equipped with the skills they need to properly utilise these tools. 3. Privacy concerns Some people are concerned about the privacy implications of digital identity. Due to the worry that their personal information could be used for identity theft or other crimes, they are hesitant to share their personal details online. There is also a lack of trust in governments and private entities to protect personal information adequately. Addressing these concerns will require robust data protection legislation, as well as transparency and accountability mechanisms to ensure that personal information is stored and used appropriately. 4. Technology challenges Some areas in Africa have limited access to electricity and the internet, making it difficult to implement and use digital identity systems, which usually require a reliable power supply and an internet connection. Despite these challenges, there is a growing need for the adoption of digital identity in Africa. Addressing these challenges will require collaboration between governments, the private sector, and the general public to develop a comprehensive strategy that promotes the benefits of digital identity while protecting individual rights and privacy.Growing the banking industry and advancing financial inclusion in Africa require these obstacles to be addressed as a priority because digital identity will become increasingly important for banks to provide the best possible service to their customers. By providing a secure and reliable way to verify the identity of customers, digital identity can help banks to reduce fraud, increase customer satisfaction, and expand their reach to new markets.In conclusion, while digital identity has the potential to transform the way people in Africa access services and participate in the digital economy, several challenges must be addressed to ensure widespread adoption. High costs, low levels of digital literacy, and privacy concerns are all significant obstacles that must be overcome.
Read MoreHow digital identity can boost the African banking industry
Noel K. Tshiani is the founder of Congo Business Network, which works with startups, corporations, and government institutions in the Democratic Republic of Congo with the goal of contributing to economic development. The organization put together a delegation made up of startups and government representatives to participate in the Africa Fintech Summit last week in Washington DC. Digital identity is a key enabler of financial inclusion and economic development. It can help to verify the identity of individuals, making it easier for them to access banking services, government benefits, and other digital services without having to visit a physical location. The digital revolution has brought numerous benefits to Africa, including access to internet services and online shopping. But the adoption and use of digital identity in Africa have been slow, hindering progress towards fully embracing the digital economy. The factors hindering this progress include: 1. High cost The cost of implementing and maintaining a digital identity system can be high, especially for governments and small businesses. Developing the system, collecting and storing data, and providing access to users can raise significant costs. Financial difficulties can be a major barrier for governments and businesses that are already struggling to pay other monthly expenses. 2. Lack of awareness and digital literacy Many people in Africa are not aware of the benefits of digital identity or how to use it and as such do not demand digital identity systems from their governments or businesses. And without demand, there is no pressure on governments and businesses to invest in digital systems and eschew paper-based documentation such as voter registration cards. Furthermore, many Africans lack the technical skills required to use digital identity tools effectively. As such, education and training programs are needed to ensure that people are equipped with the skills they need to properly utilise these tools. 3. Privacy concerns Some people are concerned about the privacy implications of digital identity. Due to the worry that their personal information could be used for identity theft or other crimes, they are hesitant to share their personal details online. There is also a lack of trust in governments and private entities to protect personal information adequately. Addressing these concerns will require robust data protection legislation, as well as transparency and accountability mechanisms to ensure that personal information is stored and used appropriately. 4. Technology challenges Some areas in Africa have limited access to electricity and the internet, making it difficult to implement and use digital identity systems, which usually require a reliable power supply and an internet connection. Despite these challenges, there is a growing need for the adoption of digital identity in Africa. Addressing these challenges will require collaboration between governments, the private sector, and the general public to develop a comprehensive strategy that promotes the benefits of digital identity while protecting individual rights and privacy.Growing the banking industry and advancing financial inclusion in Africa require these obstacles to be addressed as a priority because digital identity will become increasingly important for banks to provide the best possible service to their customers. By providing a secure and reliable way to verify the identity of customers, digital identity can help banks to reduce fraud, increase customer satisfaction, and expand their reach to new markets.In conclusion, while digital identity has the potential to transform the way people in Africa access services and participate in the digital economy, several challenges must be addressed to ensure widespread adoption. High costs, low levels of digital literacy, and privacy concerns are all significant obstacles that must be overcome.
Read MoreMeta to cut ties with its content moderators in Kenya
Meta, the parent company of Facebook and Instagram, has received an order from Kenya’s Employment and Labour Relations Court to cut ties with Sama and Majorel, its main content moderators in the country. This complicates Meta’s position as the defendant of a lawsuit last month, initiated by a group of 43 content moderators, who are accusing Meta and its partners of allegedly discriminating against them and enforcing unlawful dismissals. The group of content moderators are ex-employees of Sama, a content moderation partner that’s worked with Meta since 2019. They comprised the 260-strong workforce that Meta and Sama planned to lay off in Q1 of 2023. But last month, a Kenyan court stopped the layoffs from happening. Time reported in March that Majorel, Meta’s replacement for Sama and TikTok’s content moderation partner, is just as toxic to its workers as Sama was. The report stated that Majorel offers ”a fraction of the [Sama’s] pay and [subjects workers to] worse living conditions.” Kenya’s court subsequently barred Meta from engaging Majorel’s services, a move that came on the back of the group’s lawsuit. The recent court orders have directed Meta not to engage third parties “through employment, subcontracting, or any manner whatsoever, content moderators to serve the Eastern and Southern African region through the 4th respondent (Majorel) or through any other agent, partner or representative, or in any manner whatsoever, engaging moderators to do the work currently being done by the moderators engaged through the 3rd respondent (Sama) pending the hearing of this application.” The court also maintained that Meta must engage only Sama for its content moderation needs in sub-Saharan Africa. According to a TechCrunch report, Majorel is decrying the court order restricting Meta from using its services, maintaining that such a move will adversely affect its business since it has already set up a hub and recruited hundreds of content moderators. “For as long as the interim orders made by the court preventing it from performing the content moderation projection remain in place, that the revenue it expected to cover the investments made by the 4th Petitioner (Majorel) is at risk and may be lost,” Sven Alfons A De Cauter, Majorel director, said in a court affidavit. On the other hand, Sama explained that its contract with Meta had expired, and it is accruing a huge wage bill keeping the moderators with no job. According to them, the expired contract with Meta—without a subsequent re-engagement—means there are no new roles for these moderators to fill. Meta finds a new and unknown partner As Majorel and Sama await results from their separate petitions, Meta has employed the services of another content moderation partner for its Kenyan market, fuelling contempt of court claims by petitioners. A Meta spokesperson said Meta is working with “global partners.” In the past, Sama and Majorel had to fire content moderators all over the continent, citing an inability to properly sift through content written in local languages. Considering this, Meta’s claims of having “global partners” begs the question of whether these partners are armed with enough personnel with a nuanced understanding of local African languages.
Read MoreMeta to cut ties with its content moderators in Kenya
Meta, the parent company of Facebook and Instagram, has received an order from Kenya’s Employment and Labour Relations Court to cut ties with Sama and Majorel, its main content moderators in the country. This complicates Meta’s position as the defendant of a lawsuit last month, initiated by a group of 43 content moderators, who are accusing Meta and its partners of allegedly discriminating against them and enforcing unlawful dismissals. The group of content moderators are ex-employees of Sama, a content moderation partner that’s worked with Meta since 2019. They comprised the 260-strong workforce that Meta and Sama planned to lay off in Q1 of 2023. But last month, a Kenyan court stopped the layoffs from happening. Time reported in March that Majorel, Meta’s replacement for Sama and TikTok’s content moderation partner, is just as toxic to its workers as Sama was. The report stated that Majorel offers ”a fraction of the [Sama’s] pay and [subjects workers to] worse living conditions.” Kenya’s court subsequently barred Meta from engaging Majorel’s services, a move that came on the back of the group’s lawsuit. The recent court orders have directed Meta not to engage third parties “through employment, subcontracting, or any manner whatsoever, content moderators to serve the Eastern and Southern African region through the 4th respondent (Majorel) or through any other agent, partner or representative, or in any manner whatsoever, engaging moderators to do the work currently being done by the moderators engaged through the 3rd respondent (Sama) pending the hearing of this application.” The court also maintained that Meta must engage only Sama for its content moderation needs in sub-Saharan Africa. According to a TechCrunch report, Majorel is decrying the court order restricting Meta from using its services, maintaining that such a move will adversely affect its business since it has already set up a hub and recruited hundreds of content moderators. “For as long as the interim orders made by the court preventing it from performing the content moderation projection remain in place, that the revenue it expected to cover the investments made by the 4th Petitioner (Majorel) is at risk and may be lost,” Sven Alfons A De Cauter, Majorel director, said in a court affidavit. On the other hand, Sama explained that its contract with Meta had expired, and it is accruing a huge wage bill keeping the moderators with no job. According to them, the expired contract with Meta—without a subsequent re-engagement—means there are no new roles for these moderators to fill. Meta finds a new and unknown partner As Majorel and Sama await results from their separate petitions, Meta has employed the services of another content moderation partner for its Kenyan market, fuelling contempt of court claims by petitioners. A Meta spokesperson said Meta is working with “global partners.” In the past, Sama and Majorel had to fire content moderators all over the continent, citing an inability to properly sift through content written in local languages. Considering this, Meta’s claims of having “global partners” begs the question of whether these partners are armed with enough personnel with a nuanced understanding of local African languages.
Read MoreMeta to cut ties with its content moderators in Kenya
Meta, the parent company of Facebook and Instagram, has received an order from Kenya’s Employment and Labour Relations Court to cut ties with Sama and Majorel, its main content moderators in the country. This complicates Meta’s position as the defendant of a lawsuit last month, initiated by a group of 43 content moderators, who are accusing Meta and its partners of allegedly discriminating against them and enforcing unlawful dismissals. The group of content moderators are ex-employees of Sama, a content moderation partner that’s worked with Meta since 2019. They comprised the 260-strong workforce that Meta and Sama planned to lay off in Q1 of 2023. But last month, a Kenyan court stopped the layoffs from happening. Time reported in March that Majorel, Meta’s replacement for Sama and TikTok’s content moderation partner, is just as toxic to its workers as Sama was. The report stated that Majorel offers ”a fraction of the [Sama’s] pay and [subjects workers to] worse living conditions.” Kenya’s court subsequently barred Meta from engaging Majorel’s services, a move that came on the back of the group’s lawsuit. The recent court orders have directed Meta not to engage third parties “through employment, subcontracting, or any manner whatsoever, content moderators to serve the Eastern and Southern African region through the 4th respondent (Majorel) or through any other agent, partner or representative, or in any manner whatsoever, engaging moderators to do the work currently being done by the moderators engaged through the 3rd respondent (Sama) pending the hearing of this application.” The court also maintained that Meta must engage only Sama for its content moderation needs in sub-Saharan Africa. According to a TechCrunch report, Majorel is decrying the court order restricting Meta from using its services, maintaining that such a move will adversely affect its business since it has already set up a hub and recruited hundreds of content moderators. “For as long as the interim orders made by the court preventing it from performing the content moderation projection remain in place, that the revenue it expected to cover the investments made by the 4th Petitioner (Majorel) is at risk and may be lost,” Sven Alfons A De Cauter, Majorel director, said in a court affidavit. On the other hand, Sama explained that its contract with Meta had expired, and it is accruing a huge wage bill keeping the moderators with no job. According to them, the expired contract with Meta—without a subsequent re-engagement—means there are no new roles for these moderators to fill. Meta finds a new and unknown partner As Majorel and Sama await results from their separate petitions, Meta has employed the services of another content moderation partner for its Kenyan market, fuelling contempt of court claims by petitioners. A Meta spokesperson said Meta is working with “global partners.” In the past, Sama and Majorel had to fire content moderators all over the continent, citing an inability to properly sift through content written in local languages. Considering this, Meta’s claims of having “global partners” begs the question of whether these partners are armed with enough personnel with a nuanced understanding of local African languages.
Read MoreMeta to cut ties with its content moderators in Kenya
Meta, the parent company of Facebook and Instagram, has received an order from Kenya’s Employment and Labour Relations Court to cut ties with Sama and Majorel, its main content moderators in the country. This complicates Meta’s position as the defendant of a lawsuit last month, initiated by a group of 43 content moderators, who are accusing Meta and its partners of allegedly discriminating against them and enforcing unlawful dismissals. The group of content moderators are ex-employees of Sama, a content moderation partner that’s worked with Meta since 2019. They comprised the 260-strong workforce that Meta and Sama planned to lay off in Q1 of 2023. But last month, a Kenyan court stopped the layoffs from happening. Time reported in March that Majorel, Meta’s replacement for Sama and TikTok’s content moderation partner, is just as toxic to its workers as Sama was. The report stated that Majorel offers ”a fraction of the [Sama’s] pay and [subjects workers to] worse living conditions.” Kenya’s court subsequently barred Meta from engaging Majorel’s services, a move that came on the back of the group’s lawsuit. The recent court orders have directed Meta not to engage third parties “through employment, subcontracting, or any manner whatsoever, content moderators to serve the Eastern and Southern African region through the 4th respondent (Majorel) or through any other agent, partner or representative, or in any manner whatsoever, engaging moderators to do the work currently being done by the moderators engaged through the 3rd respondent (Sama) pending the hearing of this application.” The court also maintained that Meta must engage only Sama for its content moderation needs in sub-Saharan Africa. According to a TechCrunch report, Majorel is decrying the court order restricting Meta from using its services, maintaining that such a move will adversely affect its business since it has already set up a hub and recruited hundreds of content moderators. “For as long as the interim orders made by the court preventing it from performing the content moderation projection remain in place, that the revenue it expected to cover the investments made by the 4th Petitioner (Majorel) is at risk and may be lost,” Sven Alfons A De Cauter, Majorel director, said in a court affidavit. On the other hand, Sama explained that its contract with Meta had expired, and it is accruing a huge wage bill keeping the moderators with no job. According to them, the expired contract with Meta—without a subsequent re-engagement—means there are no new roles for these moderators to fill. Meta finds a new and unknown partner As Majorel and Sama await results from their separate petitions, Meta has employed the services of another content moderation partner for its Kenyan market, fuelling contempt of court claims by petitioners. A Meta spokesperson said Meta is working with “global partners.” In the past, Sama and Majorel had to fire content moderators all over the continent, citing an inability to properly sift through content written in local languages. Considering this, Meta’s claims of having “global partners” begs the question of whether these partners are armed with enough personnel with a nuanced understanding of local African languages.
Read MoreAutochek acquires majority stake in Egypt’s AutoTager
Autochek, a Nigerian automotive technology company, has acquired a majority stake in AutoTager, an Egyptian automotive technology company, to establish its presence in Egypt. This is the second acquisition Autochek has made in North Africa, after acquiring Moroccan KIFAL Autos last year. It is also Autochek’s sixth acquisition in two years, expanding its footprint to East, West, and North Africa. The company now has active operations in nine countries, with a partner-led footprint of more than 2,000 dealers and workshop locations. AutoTager, a venture-backed startup, provides Egyptians with access to vetted vehicles and financing options while connecting dealers with buyers and providing technology solutions to improve their operations. Autochek expands into North Africa, acquires Morocco’s KIFAL Auto Egypt is the third-largest economy in Africa and the second-largest passenger car market, making it a strategic market for a car-financing service. In 2021, over 215,000 cars were sold in Egypt, creating thousands of jobs. The country’s strategic position and large population have created a large demand for cars and auto financing solutions. Autochek hopes to leverage its partnership with several banks to provide Egyptians with the infrastructure to make car ownership more accessible and affordable. Speaking on the acquisition, Olajide Adamolekun, Autochek’s CFO and co-founder, said, “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.” Autochek acquires CoinAfrique to accelerate expansion across francophone Africa AutoTager’s CEO, Amr Rezk, will still lead the company. “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,” Rezk said.” 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.”
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