Careem invests $10M in Egypt since opening, 30% growth monthly

CAIRO – 1 August 2017: Careem Egypt has invested around $10 million since its services have been opened in the country and is achieving 30 percent growth rate monthly, the firm’s CEO Ramy Kato told Al-Borsa Newspaper Monday.

The ride-hailing company has a customer service team of 650 employees serving the Middle East region and is targeted to increase to 1,000 in the first quarter of 2018.

The CEO added that the number of captains working for the company reached 60,000 and targeted to reach 200,000 by the end of next year.

Careem owns seven training centers, distributed as three in Cairo, two in the delta and other two in Alexandria, Kato said, adding that the firm is considering the investment opportunities in the e-commerce, in addition to the passenger transport service.

Earlier in July, Careem has announced buying a minority stake and investing $500,000 in the bus transportation service Swvl.