E-Business
Autochek Secures $13.1mn Seed Funding to Scale its Technology, Accelerate Expansion

Autochek, the automotive technology company facilitating auto financing across Africa, has today secured $13.1mn in seed funding.

Co-led by follow-on investors, TLcom Capital and 4DX Ventures, the round also included participation from existing investors, Golden Palm Investments, Enza Capital, Lateral Capital as well as new participants, ASK Capital and Mobility 54 Investment SAS (the venture capital arm of Toyota Tsusho Corporation / CFAO Group).
With the new funding secured just under a year after Autochek’s $3.4mn pre-seed raise, the round was preempted by Autochek’s lead investors – TLcom Capital and 4DX Ventures. As part of Autochek’s growth strategy, the capital will be deployed to bolster its core auto loan processing platform and deepen its footprint in West Africa, starting with its recent entry into Cote d’Ivoire.
Additionally, the company is rapidly expanding its footprint across East Africa, following its recent acquisition of Cheki Kenya and Cheki Uganda, East Africa’s leading online auto marketplace. As part of the investment by Mobility54, Autochek will be leveraging Toyota Tsusho’s vast retail network across 46 African countries to further deepen its expansion.
Launched in October 2020 and operational across East and West Africa in 5 countries – Nigeria, Kenya, Ghana, Uganda and Cote d’Ivoire; Autochek combines technology, underpinned by data analytics to deepen auto finance penetration across the continent.
Powered by its residual value algorithm, Autochek has built in-house digital solutions such as Collateral Management, Dealer Management Systems and a proprietary CRM system for managing stakeholder operations within the ecosystem such as vehicle financing, inspection, valuation, and inventory management.
Since its pre-seed raise in November 2020, the platform has achieved rapid traction across its business, most notably in the area of auto-financing where the number of processed loan applications rose from just 10 in November to over 46,000 to date.
Autochek has now partnered with 70 banks across the continent including leading regional players such as Access Bank, Ecobank, UBA, Bank of Africa and NCBA Bank.
The startup has also achieved several key milestones since the start of the year including over 1000 dealers on the Autochek network actively using the loan processing solution, and over 15,000 certified and financeable vehicles on the Autochek marketplace across its markets. Over the course of the year, Autochek also launched it’s truck financing platform and more recently financing of brand new vehicles.
Speaking on the next phase of Autochek’s rapid growth following its fundraise, Etop Ikpe, Founder and CEO of Autochek, said, “At Autochek, our driving force is to increase financing penetration on the continent; we have been amazed by the market adoption rate and the support from our banking partners in the countries we operate in.
We stepped into this space knowing we were tackling one of the most significant challenges for Africa’s automotive sector – the lack of a simplified, digital-first financing process. By combining our expertise and networks, we have been able to make an impact in the automotive sector.
“We are extremely delighted with the progress we’ve made in a short amount of time. With this funding and the support of our strategic investors, the entire team at Autochek are dedicated to delivering exceptional service for customers and partners, as well as deploying our technology across Africa.”
Andreata Muforo, Partner at TLcom, says “Autochek has achieved significant traction in one of Africa’s key verticals and is making impressive progress in bringing transparency and efficiency in this complex and fragmented industry.
The foundation of its growth has been the strong leadership of its CEO, Etop Ikpe, a repeat founder in the automotive market whose world-class experience gave us the confidence to initially invest in Autochek in 2020. We look forward to the next chapter of Autochek’s growth as it continues to unlock the major upside which has remained dormant in Africa’s automotive sector for decades.”
Walter Baddoo, Managing Partner at 4DX Ventures, says, “Autochek is revolutionising the auto industry in Africa by offering the convenience and selection advantage of an auto e-commerce platform together with the added flexibility of financing.
We have enjoyed working with the team so far, and they have demonstrated the talent, ambition, and domain expertise needed to build a complete end-to-end car ownership experience for customers. We are excited to partner with the team as they pursue the next phase of their growth.”
Despite being a $45bn industry, Africa’s used car market only has a 5% financing penetration rate, marking a major contrast to the rates of 98% and 99% in Europe and the USA respectively.
Due to a lack of transparency from the automotive sector, there is no way for lenders to understand the present and residual value of vehicles, creating a significant reluctance to issue loans.
However, with Autochek’s established links with car dealerships and 150-point inspection and valuation reports, the company can access vital information on the quality and condition of a range of vehicles, providing lenders with the much-needed trust and transparency to make informed decisions.
Based on its algorithms, Autochek is also able to develop a credit profile on behalf of customers and effectively reduce a loan application process from 40-45 days to 48 hours.
E-Business
Check Point Reveals Nigeria as Second Most Targeted African Country for Cyberattacks in November

The November 2025 Global Threat Intelligence report released by Check Point Research on Tuesday, shows Nigerian organisations faced an average of 3,374 cyberattacks per week.

Making the country as one of the primary targets for cybercriminals in Africa last month, with a record of a staggering volume of digital threats despite an overall decline in attacks across the continent.
The report shows that this figure places Nigeria second among the four major African nations analysed, trailing only Angola, which topped the list with 4,251 weekly attacks per organisation.
While Africa as a whole saw a 13 percent year-on-year decrease in cyber incidents, Nigeria’s high numbers reveal a persistent vulnerability within its digital infrastructure. Kenya and South Africa followed Nigeria with 2,384 and 1,863 weekly attacks, respectively.
The report also identified government institutions and financial services as the most targeted sectors across Africa. Globally, the education and research sector remained the most frequent victim, hit by an average of 4,656 attacks per week.
A significant highlight of the report is the emerging threat posed by Generative Artificial Intelligence (GenAI). Check Point Research found that one in every 35 GenAI prompts submitted within corporate networks globally posed a high risk of sensitive data leakage.
In Nigeria and abroad, employees are increasingly using AI tools that operate outside of formal security frameworks. The report noted that 87 percent of organisations using GenAI were affected by ‘high-risk’ prompts, which often included the input of proprietary code, customer data, or internal communications into public AI models.
Ransomware continues to be a primary tool for extortion, with global incidents rising by 22 percent year-on-year. While North America remains the most targeted region for ransomware, the impact is increasingly felt in emerging markets like Nigeria.
The most active ransomware groups identified in November were Qilin, Clop, and Akira, which primarily targeted industrial manufacturing and consumer goods sectors.
E-Business
JustMarkets Launches Global Boost Contest With Gold Prizes for Traders

JustMarkets, a worldwide broker with more than 12 years of experience in the online trading realm, is launching the Boost Contest, which represents a large-scale trading activity with the purpose of motivating traders, with the most proficient traders being awarded for their exceptional performance through a number of valuable prizes. This activity will last until the 31st of January, 2026.

JustMarkets
A Competition Developed with the Goal of Providing More Opportunities for Traders Worldwide
Boost Contest competition participants will be traders with Standard, Pro, or Raw Spread accounts of the MetaTrader 4 or MetaTrader 5 platforms.
To participate, traders will only be required to have a minimum account balance of $100 with a minimum of 3 traded lots. These were the requirements set for participants. Of course, the purpose of such a competition is for every broker client to participate. At the same time, however, JustMarkets sought to encourage traders to conduct in-depth analysis, different strategies, risk, and discipline. It was with this objective that this form of competition was established.
Multiple-tier rewards system with real gold
What sets the Boost Contest apart is the Weekly Lucky Draws component, in which traders compete for real gold prizes, awarded in three levels, based on their cumulative trading volume achieved through the competition:
Tier I (more than 100 lots): 15 grams of gold (3 winners)
Tier II (50-99 lots): Gold worth 10 grams (5 winners)
Tier III (10-49 lots): 5 grams of gold (7 winners)
This competition design thus provides traders with different levels of activity with the same opportunity of benefiting from valuable rewards.
Weekly Draws to Encourage Continued Participation
Apart from the top-level prizes, the competition also includes a series of weekly prizes. Traders participating in the competition will qualify for entry into the draw if they execute a minimum of three trades per week. Five lucky traders will be awarded $200 every week.
The introduction of the Boost Contest meets JustMarkets long-term obligations in:
Engaging traders through effective rewards programs
Fostering regular and organized trading practices
Enhancing transparency and integrity within all promotion endeavors
Offering a welcoming space where traders with different skill sets can participate
This reflects the purpose of JustMarkets, which is not only to offer traders good trading terms but also opportunities that add value to the entire trading experience.
A Global Platform Built on Trust and Innovation
As a globally recognized trading platform, JustMarkets continues to invest in initiatives that elevate client experience while adhering to high operational standards. The company maintains a robust technological infrastructure, offers multilingual support, and upholds strict security principles, all foundational elements behind long-term client trust.
The Boost Contest shows JustMarkets dedication to create a convenient and transparent trading environment where everyone can reach their full investment potential by clear rules, transparent rewards, and a stable trading ecosystem.
E-Business
Microsoft Empowers 350,000 more Nigerians with AI Skills

Microsoft, in collaboration with the Federal Government of Nigeria, Data Science Nigeria, and Lagos Business School, today announced a major milestone in its AI National Skills Initiative (AINSI), with more than 350,000 Nigerians reached with AI skills through the programme. This achievement builds on Microsoft’s longstanding partnership with the government, which has delivered digital training to over 4 million people since 2021.

Microsoft
The milestone underscores Nigeria’s commitment to inclusive, technology-driven growth and reflects strong progress in preparing individuals and organisations to thrive in the digital economy.
“Nigeria cannot afford to wait,” said Abideen Yusuf, General Manager, Microsoft Nigeria and Ghana. “AI is reshaping every sector, and the countries that move fastest on skills will lead. We must equip people now, at scale and with intent, so the immense opportunity presented by AI doesn’t pass us by.”
Olayinka David-West, Dean of Lagos Business School, emphasised this point: “AI skilling is no longer optional for Nigeria’s digital future—it is the foundation of our competitiveness. At Lagos Business School, we believe that equipping leaders and citizens with AI capabilities is essential for driving inclusive growth, innovation, and national transformation.”
As it stands, a significant percentage of Nigerian graduates are still to acquire digital skills, highlighting the importance of workforce readiness. Launched in January, the second phase of the Nigeria skilling programme, under Microsoft’s AINSI, aims to reach 1 million citizens over three years, strengthening Nigeria’s AI capability and national competitiveness. AINSI is helping drive a range of different programmes designed to embed AI skills across every sector of the economy.
Empowering organisational leaders
Over the past year, AINSI has advanced ethical and inclusive AI leadership in Nigeria’s public sector. Working with Lagos Business School, the Federal Ministry of Communications, Innovation and Digital Economy, and the National Centre for Artificial Intelligence and Robotics, Microsoft has trained 99 public sector leaders, including Members of the National Assembly and senior executives from 58 ministries and agencies. These sessions equipped leaders with strategies for AI-powered reporting and sector-specific roadmaps.
Equipping developers for the future
Developer-focused programmes are creating a strong pipeline of technical talent. Through government-driven initiatives like Developers in Government (DevsInGov) and the 3 Million Technical Talent initiative, led by the Ministry of Communications, Innovation and Digital Economy, developers in public sectors have gained new skills. Around 645 participants have been trained in analytics and AI integration. Another 1,000 developers learned advanced skills in areas such as DevOps, machine learning and data science. These efforts are helping Nigeria’s workforce prepare for the future by advancing AI fluency across the digital ecosystem.
Bringing AI skills to every tech user
To reach everyday tech users, developers, and business leaders, Microsoft hosted a flagship programme, Microsoft AI Skills Week – engaging over 235,000 participants through AI digital literacy workshops, business leader strategy sessions and an Agentic AI hackathon. Partnering with VISA, TeKnowledge, UNICEF, Data Science Nigeria, and Lagos Business School, the initiative trained more than 11,400 individuals and certified over 1,700. A standout moment was the Agentic AI hackathon, showcasing innovative solutions for document verification, risk assessment, and fraud detection, demonstrating the real-world impact of AI skills in fintech.
“Our collaboration with Microsoft has demonstrated that AI readiness requires coordinated investment across every stakeholder group — government, developers, educators, and communities. By building capacity for evidence-driven governance, responsible innovation, classroom integration, and community adoption, we are laying the foundation for a globally competitive workforce. True digital transformation happens when the entire ecosystem moves forward together,” commented Dr. Bayo Adekanmbi, CEO/Founder, Data Science Nigeria.
Looking ahead, Microsoft and its partners will continue driving Nigeria’s digital transformation through targeted upskilling in AI and cybersecurity, expanded access to AI education, and ongoing developer training. These activities aim to build local expertise at all levels and support Nigeria’s young population in taking an active role in Africa’s digital future.
“Nigeria is on track to capture 43% of Africa’s projected $136 billion AI-driven productivity gains by 2030,” concluded Yusuf. “By collaborating with the government to equip leaders, developers, and tech users, we’re building a future-ready workforce and helping Nigerians adopt and adapt the technology, thereby maximising its potential.”
E-Financial3 days agoSupreme Court Clears Fidelity Bank in ₦225bn Sagecom Saga
E-Financial3 days agoPreventing Financial Crimes Amid Mounting Insecurity: Why Following the Money is Now a Survival Imperative
E-Financial3 days agoUnion Bank Clinches Top Workplace Practice Honour at Sustainability Awards
Broadcasting2 days agoDavido, Babajide Sanwo-Olu, Karl Toriola, Others To Be Honoured At The Most Influential People of African Descent Awards In Lagos
News2 days agoSiBAN New Executive Council to Champion Vision for Nigeria’s Digital Economy
E-Financial2 days agoTax Reform or Financial Exclusion? The Trouble with Mandatory TINs
Telecom2 days agoNCC Blames NOGASA for Abuja Outage
Telecom3 days agoNITDA Charts Path for Kano as Innovation Hub


















