AUTO24.africa, the used car marketplace by Africar Group, backed by Stellantis, has acquired Kupatana.com, the leading general online classifieds in Tanzania which previously merged with Zoom Tanzania, its main competitor.
The acquisition by AUTO24.africa and Africar Group from Euroafrica Digital Ventures, for an undisclosed sum, represents a significant expansion of AUTO24.africa’s influence in Sub Saharan Africa. The deal will also position AUTO24.africa’s launch in Tanzania and in the region later this year.
Tanzania, with its population of 65 million people and 6.3% forecasted GDP growth in 2024, is the fastest growing market in the area and represents a very attractive growth opportunity for AUTO24.africa’s offer on the continent with over 50 automotive classifieds verticals across Sub Saharan Africa over the years. The acquisition of Kupatana.com, Africar Group reaffirms its status as the clear leader in terms of online reach in the automotive industry in the region, with a strong presence in East Africa, one of the most dynamic regions of the continent.
Founded in 2009, ZoomTanzania.com was the largest classifieds site in Tanzania, with over 3 million monthly page views and in 2014, Ringier acquired a 51% stake in the company and integrated into Ringier Africa AG.
During the acquisition, Kirk Gillis, founder and Managing Director of ZoomTanzania.com says: “We couldn’t be more pleased. Of all the potential partners we had been in discussions with, Ringier consistently rose to the top on every metric. We look forward to merging our local market expertise with Ringier’s world-class technology and operational excellence. Ringier brings much to the table, and together I have no doubt we will achieve great things here in Tanzania.”
Ringier has been a big player in the African classifieds and digital media market even before its acquisition of One Africa Media assets across Africa and eventually selling them to Nigeria’s Autochek Africa. ZoomTanzania was being run by Roam Africa while Kupatana was being run by by Frontier Digital Ventures. The two announced a merger in 2012 to operate as one large marketplace under EuroAfrica Digital Ventures. The two platforms were later rebranded as Kupatana.com to increase brand awareness and mobile adoption according to according to Makusaro Tesha, the then GM of Afrieuro Digital Ventures.
During the merger, ZoomTanzania had 87,000 listings, while Kupatana had 62,000 with an average of 500,000 visits each per month. ZoomTanzania had received a million dollar investment from Ringier Africa for growth but this was used to drive the rebrand and further growth in Tanzania. The sell to Africar Group marks Roam’s exit from classifieds platforms in East Africa and a new day for Africar Group.
AUTO24.africa currently operates pre owned marketplaces in Côte d’Ivoire, Morocco, South Africa, Rwanda, and Senegal, and is looking to expand in 2024 into more countries, with an innovative range of services, such as warranties, insurance, 150 points of inspection and more, to cater for a growing demand of quality and certified used cars by the local consumers.
AUTO24.africa is a product by Africar Group Pty Ltd, registered in Sydney, Australia, and available in more than 45 countries, and covering markets totaling more than 1 billion people, it has been helping millions of buyers and sellers of pre-owned vehicles to transact safer and easier over the last 5 years.