Shekel Mobility is Paving the Road for Africa’s Automotive Growth

Africa’s automotive industry is poised for significant growth, with a projected annual demand of over 2.4 million cars and 300,000 commercial vehicles. However, despite this growing demand, car ownership remains below the global average, largely due to challenges in financing and accessing inventory for auto dealers.

Enter Shekel Mobility, a B2B marketplace that is revolutionizing the African used car market by providing auto dealers with access to financing, inventory, and a streamlined sales platform. Through its innovative solutions, Shekel Mobility is playing a pivotal role in unlocking the potential of Africa’s automotive sector and driving economic growth across the continent.

Easing Financing Hurdles for Auto Dealers

One of the primary obstacles facing auto dealers in Africa is access to financing. Traditional financial institutions often view the used car market as high-risk, making it difficult for dealers to secure loans or credit lines. Shekel Mobility addresses this challenge by providing dealers with direct financing, enabling them to purchase inventory and expand their businesses.

The company’s flagship product, Shekel Credit, offers credit limits of up to $200,000, with a typical loan amount ranging from $5,000 to $20,000. Dealers can access this financing quickly and easily, without the hassle of traditional banking procedures. This streamlined process allows dealers to focus on their core business of buying, selling, and maintaining vehicles.

Expanding Inventory and Streamlining Sales

In addition to financing, Shekel Mobility also provides auto dealers with access to a wider range of inventory. The company’s platform connects dealers with a network of verified sellers, ensuring that they have a steady supply of quality used cars to meet customer demand.

Furthermore, Shekel Mobility offers a digital marketplace that facilitates seamless transactions between dealers and end customers. Dealers can list their vehicles on the platform, providing detailed descriptions, photos, and pricing information. Customers can browse the marketplace, compare prices, and contact dealers directly to schedule test drives and make purchases.

Empowering Auto Dealers and Driving Economic Growth

By addressing the financing, inventory, and sales challenges faced by auto dealers, Shekel Mobility is empowering businesses and contributing to economic growth across Africa. The company’s interventions are creating jobs, stimulating the automotive sector, and making car ownership more accessible to consumers.

Shekel Mobility’s impact is particularly evident in its success stories. The company has helped over 1,400 auto dealers grow their businesses, facilitating transactions worth over $56 million and contributing to the sale of over 7,000 cars.

Looking Ahead: A Bright Future for Shekel Mobility and Africa’s Automotive Sector

With its innovative solutions, Shekel Mobility is poised to continue playing a pivotal role in Africa’s automotive industry. The company’s recent $7 million funding round will enable further expansion and the introduction of new products and services.

As Shekel Mobility grows, it will continue to empower auto dealers, expand access to affordable and reliable transportation, and contribute to the economic development of Africa’s growing automotive market.