Careem Egypt mulls start-up market to invest in transport and e-commerce sectors

Egypt’s transportation app Careem says it is studying the start-up market in Egypt to invest for the best of its expansion strategy, with a focus on e-commerce and transportation sectors.

Rami Kato, head of Careem Egypt operation, said Wednesday that the company’s investment in Swvl Company is part of Careem’s strategy to spread its services, notably as Swvl offers outstanding transportation services at lower prices.

After the increase in fuel prices, Kato further added that the service cost bore by Captains increased. It was necessary to move quickly so as not to have them bear this cost alone by balancing the cost and benefit so that they will keep working.

The service must remain affordable to clients, in addition to being safe and comfortable, he noted.

“Last week, we cancelled the extra cost during peak time to relieve the customer while paying the difference to the captains,” the Egyptian official stated.