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 its technology-enabled platform and standardised pricing, Cars45 has been able to create a marketplace where consumers in Nigeria are able to buy, sell, and swap their cars.
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You can now sell your car directly through @cars45ke and @cars45_gh and get paid instantly.
You also have full access to vehicle financing, background checks, vehicle history, insurance, after-sales support, servicing and other services
— Cars45 (@cars45ng) December 10, 2019
The company will also provide vehicle financing, background checks, vehicle history, insurance, after-sales support, servicing, and other ancillary services needed by customers during the automotive lifecycle.
With retail locations already opened in Accra and Nairobi, Cars45 has plans to further increase its footprint by opening more centers in Tema and Kumasi in Ghana, and Mombasa in Kenya.
Also in view is a potential expansion to other African markets in 2020.
“We want 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,” co-founder and CEO, Etop Ikpe, said regarding the expansion.
In addition to its launch into these markets, Cars45 is looking to address trust issues plaguing the market by launching a consumer-to-consumer marketplace that directly matches sellers and buyers across all markets it operates in.
Nigerian startups raised $377m in 2019, more than twice what they did in 2018. Find out more when you download the full report.