Swvl Holdings Corp (NASDAQ:SWVL), a global provider of transformative mobility solutions, has secured a 5-year contract with e& Egypt, a leading telecom operator in Egypt, valued at approximately $6.3 million. The deal marks a significant step in Swvl's efforts to expand its presence in the Egyptian market and strengthen its leadership in the mobility sector.
The partnership with e& Egypt, part of the e& Group, is expected to leverage Swvl's technological capabilities to enhance daily transportation for dense, dynamic workplace environments. Swvl's CEO, Mostafa Kandil, emphasized the importance of the collaboration, stating that it affirms the company's potential to positively influence the mobility landscape and contribute to its profitable growth trajectory.
Swvl, known for its tech-based solutions, offers an alternative to public transportation with its parallel mass transit systems. Through its proprietary app, customers can book rides on private buses and vans, enjoying a convenient, efficient, and eco-friendly travel experience.
The collaboration with e& Egypt is anticipated to not only redefine industry standards but also drive societal change and support sustainable transit solutions. This initiative aligns with Swvl's mission to provide safe, accessible, and environmentally responsible mobility options.
This news is based on a recent press release statement by Swvl Holdings Corp and does not include any forward-looking statements from the company. Swvl has made no commitment to update any forward-looking statements and advises readers not to place undue reliance on such statements, which were not intended as guarantees or predictions of future performance.
For further information regarding risks and uncertainties that could affect Swvl's business, refer to the company's annual report on Form 20-F for the fiscal year ended December 31, 2023, filed with the U.S. Securities and Exchange Commission.