Egypt - Swvl suspended its transportation services for individuals in Alexandria about two weeks ago, as part of the company’s plans to restructure its business in various markets to turn to profitability in 2023, according to a source.
The source added that the company intends to resume the service again in Alexandria, but only at peak hours, or when there is high demand. This ensures the company achieves economic efficiency from the service provided in Alexandria.
Alexandria is the second largest city in Egypt and is the second city after Cairo where Swvl provides transportation services for individuals through internal lines in the city.
The source revealed that the company’s unit in Egypt is divided into two parts in terms of business, the first for the business sector or “enterprise”, and the second includes “retail and travel” divisions.
Swvl had made a number of changes last June, represented in increasing the prices of transport services for individuals within cities in Egypt by 10-20%, depending on each itinerary and its distance.
Swvl had laid off 39 employees from its office in Egypt. The company said earlier that it would terminate contracts of 276 employees in nine countries of operation.
The company announced that it plans to give up about a third of its employees in an attempt to achieve profits to reduce costs to reach profitability next year 2023 instead of in 2024. Moreover, some administrative processes and steps within the company will mainly rely on technology instead of employees to help accelerate the pace of work and improve performance.
Swvl provides four services in Egypt, which are transporting individuals within cities, transporting individuals between cities, transport services for the corporate and institutional sector, and renting private mass transport vehicles.
Swvl had suspended the transportation service for people within cities in Pakistan, while maintaining the intercity transportation service to connect Karachi, Islamabad and Lahore with the rest of the cities.
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