Cairo – The installment payment solution provider valU, a subsidiary to EFG Hermes, has injected funding worth EGP 50 million to drivers of the ride-hailing service Uber, chief business officer at valU, Mohamed El-Shabrawy El-Feky, said.
Drivers of the ride-hailing app have been financed to purchase 300 cars, El-Feky added during a conference held on Monday
Egyptian Saudi Finance Bank (ESFB) have offered valU a loan worth EGP 100 million under a 14-month deal in collaboration with Egypt’s Ministry of Investment to finance all ride-hailing companies, he revealed.
Translated by: Zeinab Adel
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