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Home News Africa News

Dubai’s Careem is Testing Bus-Booking Service in Egypt

Tech Gist Africa by Tech Gist Africa
08/15/2018
in Africa News, World News
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Careem

Photo Credit: arabianbusiness.com

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Dubai based transportation network company, Careem is currently testing a bus-booking service ahead of a possible roll-out out across all 14 countries it operates in.

The service is targeted at low-income earners and will go live in four cities in Egypt, and is expected to be launch in September, according to Arabian business.

The amount that will be invested in this project by the Dubai-based company is unknown but indicated revealed that significant capital has been allocated for it.

Competition with Uber Technologies Inc. is pushing Careem to look at expanding into other services including food and package delivery. Uber has held preliminary talks to merge with its local competitor, people familiar with the matter previously told Bloomberg.


See Also: Emergency Taxi To Take On Uber And Taxify In South Africa


Careem has also been speaking with investors to raise $500 million, and has held early talks with banks about a potential IPO in January.

Good news for Egypt? Let’s know your thoughts.


More Tech Stories:

  • Egyptian Start-up, Mowarrid Raises $2.3m Investment Round
  • AUC Venture Lab Partners Temenos to Provide Sandbox for Egyptian Fintech Start-ups
  • Egypt’s Parliament Has Passed a New Law Regulating Social Media
  • Egypt’s Beach Safer Wins Place at Microsoft Imagine Cup Final
  • OLX Launches “Buy Used Items” Campaign in Egypt, Hopes To Reach More Audience Digitally

 

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Tech Gist Africa is a new media and technology news platform that focuses on the untold stories of innovative ideas closely connected to technology news from Africa.

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