Swvl, the renowned Egyptian transportation startup is going to start its operations with 50 buses in Nigeria’s Lagos this July.
Nigeria is one of the three countries where Swvl offers their services other than Egypt and Kenya. It is expected that Swvl will have to face serious competition from rivals like Gokanda. With a population of 20 million, Lagos has great potential in the transportation market as good commuting options are high in demand.
Swvl had started to develop expansion plans in 2018. They are willing to extend their operations to Asian and African regions; the countries include Thailand, Vietnam and Uganda. By the end of 2019, the Egyptian startup hopes to take their services in seven mega-cities.
Since its launch in 2017, Swvl has experienced substantial growth. Though their initial target was to revolutionize the transportation scene of Egypt, now their hopes are even higher. They are willing to reach their targets by providing the public with affordable, smart technology-based commuting alternatives, especially in jammed cities.
The US automotive giant Ford is one of the partners of this exciting Egyptian startup. Ford Transit minibuses are the go-to vehicle for Swvl.
The Founder and CEO of Swvl, Mostafa Kandil said that his company is not bothered by the recent joining of Uber and Careem and Swvl will continue to reach new heights regardless of stiff competition.
Swvl was valued at almost $100 million in 2018, becoming only the second Egyptian company after Fawry to reach such figures.