Etop Ikpe, the former CEO of Cars45, has broken his silence on his exit from the company he founded 4 years ago.

Ikpe in an interview with Business Day said that his resignation from Cars45 is a function of his Autocheck dream.

He said: “My resignation is a function of the dream I have for Autochek. What we are doing with Autochek is not for one segment. It cuts across the entire industry. What is the actual reason Nigerians don’t have cars? They want a place where they can access it and that is what we are trying to build.

“We are trying to build technology solutions and provide a solution to the people who trade with the platform to serve their customers. They don’t have to be there. The technology will do the job. I believe very strongly in the direction that we are taking being able to deploy solutions that can contribute to all the segments.

“So my focus is being able to offer people guarantees and warranties on cars that they buy and financing is very important. Less than one percent of vehicle purchases are transacted through institutional finance. These are not problems that one individual can solve.”

Ikpe further stated that the media ”misconstrued” what happened adding that his quietness may have contributed to the various speculations and rumours that followed his exit.

“It all started with my resignation, and maybe the expectation of people was that something must have happened. The media misconstrued it. My quietness might have contributed to the narrative but it was because of the journey I was about to embark on. I don’t really see myself any longer as just being in the industry.

“I have seen the automotive sector, the value, and the potential that it holds. In India, the manufacturing segment of the automotive sector alone contributes 30 million jobs. 35 percent of manufacturing GDP in India comes from the automotive industry.”

Commenting on whether the 11 top executives who also left Cars45 will join him at Autocheck, Ikpe said he cannot say anything on their career destination and choices.

“I can’t really speak about the career choices of other people. I had a very long career in the tech industry. The industry has given me an opportunity to work with so many different talented individuals.

“I want to thank those who have worked with me over the years and supported me to get to where I am. I have had the opportunity of working with different people in various sectors. It is a natural thing that some people would work with me. I can’t really speak for anybody that resigned.”

Musa Suleiman
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