AUTO24.africa, the certified used car marketplace within the Africar Group’s portfolio and supported by Stellantis, strengthens its market dominance in Africa with the acquisition of Kupatana, the leading online classifieds platform in Tanzania. The purchase from Euroafrica Digital Ventures, for an undisclosed amount, represents AUTO24.africa’s expansion in Sub-Saharan Africa, demonstrating its commitment to transforming the African used car market.
Kupatana.com, a well-established brand in Tanzania and the country’s primary classifieds website, adds significant value to AUTO24.africa’s portfolio. The acquisition follows Kupatana.com’s previous merger with Zoom Tanzania, its main competitor, further enhancing AUTO24.africa’s influence in the region. Africar Group, the driving force behind AUTO24.africa, has already established over 50 automotive classifieds verticals across Sub-Saharan Africa, solidifying its position as the leader in online automotive reach, particularly in the dynamic East African market.
Operating as a leading certified pre-owned marketplace in countries such as Côte d’Ivoire, Morocco, South Africa, Rwanda, and Senegal, AUTO24.africa plans to expand into additional countries in 2024. The company offers innovative services, including warranties, insurance, and a 150-point inspection, addressing the growing demand for quality and certified used cars among local consumers.
Tanzania, with a population of 65 million people and a forecasted GDP growth of 6.3% in 2024, stands out as the fastest-growing market in the region. AUTO24.africa aims to capitalize on this opportunity, leveraging its expertise and services when launching in Tanzania later in 2024. This aligns with the company’s vision to tap into the immense growth potential of one of Africa’s most vibrant markets.
AUTO24, known for its innovative approach, is revolutionizing the African automotive landscape by offering buyer-friendly features such as a five-day return policy, a six-month warranty, one-year maintenance, and one-year insurance plans for all automobiles. The recent expansion into Morocco, Rwanda, Senegal, and South Africa, along with the introduction of comprehensive services, marks significant milestones in the company’s journey.
Axel Peyriere, CEO and co-founder of Auto24, emphasizes the expansion’s strategic nature, building on a successful year. The choice of Morocco and South Africa for expansion reflects their prominence as the two largest car markets on the continent. AUTO24.africa’s initiatives and expansions address challenges in Africa’s car market, where a preference for new imported vehicles exists due to the lack of local production, despite affordability issues leading many to opt for used cars.
Africar Group, the parent company, has been a pioneer in online automotive classifieds in Sub-Saharan Africa since its founding in 2016. Operating in more than 45 countries and covering markets with over 1 billion people, Africar Group has played a crucial role in facilitating safer and easier transactions for millions of buyers and sellers of pre-owned vehicles.
Stellantis, as the main investor, continues to support AUTO24.africa in its journey, aligning with Stellantis’ DARE FORWARD 2030 plan to expand mobility solutions to meet customer needs in Africa. The investment reinforces Stellantis’ commitment to growing its used vehicle business globally in a bold, pragmatic, and agile manner.