Featured
Egypt Bus-App Swvl Raises $42 Million
 
																								
												
												
											(Bloomberg) — Swvl, an Egyptian app for booking buses, has raised $42 million as it looks to expand into other parts of Africa, including Nigeria. The two-year-old company, which started in Cairo and also operates in Alexandria and Nairobi in Kenya, got the money from venture-capital firms including Sweden’s Vostok, Dubai-based BECO Capital, China’s MSA and Endeavor Catalyst, based in New York.
“The plan is to be in at least two or three more African cities by the end of the year,’’ Mostafa Kandil, the 26-year-old founder and chief executive officer, said by phone from Cairo. “Lagos, Nigeria, is most likely the next market.’’
Swvl carries hundreds of thousands of customers each month, according to Kandil, an engineering graduate who once worked for Careem, a Middle Eastern-focused transport firm that Uber is acquiring.
Uber and Careem have both launched bus services in Cairo in the past year. Along with Swvl, they’re exploiting growing demand among the city’s 20 million people for transport options that are cheaper than taxis but more convenient than public buses, which are often perceived as unreliable and dangerous.
“We tap into the middle class and upper middle class, a segment that public buses in emerging markets don’t really serve,’’ said Kandil.
- 
																	   OER Magazines2 months ago OER Magazines2 months agoDossier – ToP 25 Personalities 2025 
- 
																	   Dossier2 months ago Dossier2 months agoArabic Dossier – ToP 25 Personalities 2025 
- 
																	   Alamaliktistaad Magazines2 months ago Alamaliktistaad Magazines2 months agoAl-iktisaad, August 25 
- 
																	   OER Magazines2 months ago OER Magazines2 months agoOER, August 2025 
- 
																	   Entertainment2 months ago Entertainment2 months agoHere’s a Complete Overview of the 2025/2026 Season at the Royal Opera House Muscat 
- 
																	   News2 months ago News2 months agoSultan Center Unveils Flagship Al Hail Store, Elevating Premium Retail Experience in Oman 
- 
																	   News2 months ago News2 months agoHONOR, in partnership with MHD-ITICS Debuts at COMEX in Muscat, Expanding Its Presence in the GCC 
- 
																	   IT2 months ago IT2 months agoAI Zone, Digital Triangle Project Unveiled at COMEX 2025 

 
			 
											 
											 
											 
											 
											 
											 
											 
											 
											 
											 
											 
											 
											 
											 
											 
											 
											 
											 
											 
											 
											 
											 
											 
											 
											 
											 
											 
											 
											 
											
You must be logged in to post a comment Login