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SWVL Egypt

Egypt

1970 - 1970
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Project Description

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The SWVL Egypt project is a new development initiative in the transportation sector, focusing on revolutionizing urban mobility through a tech-enabled mass transit system . This innovative project stands out for its use of data analytics and artificial intelligence to optimize bus routes and enhance the overall commuting experience . SWVL was founded in Egypt in April 2017 by Mostafa Kandil, Mahmoud Nouh, and Ahmed Sabbah with $30,000 of their own money . The company’s vision is to “redefine the future of transportation” by providing reliable, convenient, and affordable transportation options .

SWVL aims to address urban transportation challenges, reduce traffic congestion, and offer a more sustainable alternative to private car ownership, aligning with Egypt’s broader strategy for smart city development and sustainable urban mobility .

SWVL operates across multiple cities in Egypt, including Cairo, Alexandria, and other urban centers . The project’s components include:
– A mobile application that allows users to book seats on buses and track their rides in real-time .
– A fleet of high-quality buses equipped with air conditioning and Wi-Fi for passenger comfort .
– Dynamic routing algorithms that optimize bus routes based on demand and traffic conditions .
– A cashless payment system integrated into the mobile app for convenient transactions .
– A driver management system to ensure safety and reliability of service .
– 5 Million people around the globe use Swvl regularly .
– 75000+ bus stations across the cities globally .

In terms of financial performance and project statistics:
– SWVL achieved its first annual net profit of $3.1 million in 2023, a significant turnaround from a net loss of $123.6 million in 2022 .
– Gross profits grew eightfold from $0.5 million in 2022 to $4.1 million in 2023 .
– Gross margins improved from 1.2% in 2022 to about 18% in 2023 .
– The company’s equity value more than doubled to $5.9 million as of December 31, 2023 .
– In November 2024, SWVL won new contracts worth $4.2 million in Egypt over a three-month period .
In terms of sustainability, SWVL contributes to reducing carbon emissions by encouraging shared transportation and optimizing vehicle utilization . The project also enhances accessibility by providing affordable transportation options to a wider segment of the population, including students and daily commuters .

SWVL’s key stakeholders include its founders, investors, and the Egyptian government . The company has received significant backing from venture capital firms and has formed partnerships with local bus operators to expand its services as BECO Capital, DiGAME Investment Company , and Silicon Badia . SWVL went public in March 2022 and is traded on the Nasdaq stock exchange under the ticker SWVL . The company has expanded to 135 cities across 20 countries in Latin America, Europe, Africa, and Asia . As of 2023, SWVL continues to operate and expand its services in Egypt, with ongoing development of its transportation platform and technology solutions .

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