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

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.