The ride-hailing app Swvl and the Egyptian Land Transport Regulatory Authority (LTRA) have inked a contract for the first license in Egypt to transport passengers using technology, Co-Founder and CEO of Swvl Mostafa Kandil told Asharq Business on June 7th.
Swvl is currently in talks with the Egyptian Ministry of Transport to operate smart transport lines to link Greater Cairo with the New Administrative Capital, according to Kandil.
Kandil added that Swvl has invested $150 million in Egypt from 2017 to 2023.
It worth mentioning that Swvl aims to increase its revenues in Egypt to EGP 1.5 billion in 2023, up by 87% over last year’s EGP 800 million revenues.
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