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Thursday, 27 October 2016

Congested Cairo to become regional hub for Uber

“Today, Cairo is the fastest-growing city [for Uber] in Europe, Middle East and Africa … We’ve seen an uptick starting in 2016, which is the year it started booming,” Uber Egypt General Manager Anthony Khoury told Reuters. Uber are investing USD 50 mn into Egypt over the coming two years, as the centrepiece for its Middle East growth strategy that will see it invest USD 250 mn into the region over five years, he said. “The sharing economy in general is a completely new type of economy, so it’s usually a bit tricky at the beginning," he said. "But Egypt was very quick to see the benefits, create a cross-ministerial committee and start really trying to regulate the operation.” Uber are building a support center in Cairo that will serve the Middle East and parts of Africa, with its current staff of around 175 expected to reach 1,000 by the end of 2017.

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