Cars 45 expands to Ghana, Kenya — CEO

Mr Etop Ikpe, CEO and Co-founder of Cars45, says Nigeria’s automotive trading platform has taken its African expansion to Ghana and Kenya.

Ikpe said in a statement on Tuesday that the company aimed to become the primary platform for all car transactions in the $45 billion African used car market.

“In an African market where 9 million used cars are traded annually, trust is often a rare commodity as buyers and sellers navigate opaque pricing and quality assurance structures.

“Using our technology-enabled platform, consumers in Ghana and Kenya can now sell their cars directly through Cars45 and get paid in 45 minutes.

“Sellers have access to standardised pricing and a transparent marketplace, with 100 percent visibility into price offers, and buyers get access to the largest selection of verified cars.

“Cars45 will also provide vehicle financing, background checks, vehicle history, insurance, after-sales support, servicing and other ancillary services that consumers will need in their automotive life cycle,” he said.

Ikpe added that with retail locations already opened in Nairobi and Accra, Cars45 plans to increase its footprint in Ghana and Kenya even further by opening more centres in Mombasa, Takoradi and other cities.

He said that Cars45 also plans to expand into additional African markets in 2020.

“In addition to its launch into these markets, Cars45 is also launching a consumer-to-consumer marketplace that directly matches sellers and buyers across all markets it operates in.

“In an African automotive market where trust is not traditionally high, consumers will be able to connect in a seamless and secure way, using Cars45 as a marker of professionalism and excellence.

“All cars listed in the Cars45 marketplace have been through a thorough vetting process (200 point inspection, due diligence and background check) and will carry the trusted Cars45 inspection report.

“Cars45 will also conduct multi-level screening to ensure that only serious buyers are brought forward. Buyers will have full confidence in the purchase they are making and sellers will be protected by an escrow model,” he said.

According to him, Car45 wants to connect buyers and sellers across the continent in the most seamless way, taking the stress out of the trading experience.

“After successfully establishing ourselves in Nigeria, expanding into Ghana and Kenya made perfect sense as the ideal next step as we build a transparent and fair structure for trading cars on the continent.

“The process of buying and selling cars today can be complicated, time-consuming and needlessly expensive.

“We want to put an end to that by providing an easy and convenient way for consumers across Africa to make what is often the most significant financial transaction of their live,” Ikpe said.