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Thursday, 17 May 2018

Careem looks to roll out service in 250 cities in MENA, Turkey, and Pakistan

Careem is looking to roll out service in 250 cities across the MENA region, Turkey, and Pakistan as it works towards becoming profitable by 2020, CEO Mudassir Sheikha tells The National. “Our estimate is there’s at least 250 cities in our region that should have a service like Careem, these may not be the tier-one Cairos of the world, but they’re still important,” Sheikha says. These include as many as 10 cities in Egypt, including Assiut, as well as 25 cities in Pakistan. Expansion in Africa “is on the horizon” but remains under study, Sheikha says, adding that the company does not see the need for additional funding to support its ambitious expansion plans over the coming years. An IPO is also not in the company’s immediate plans, despite it being a “natural milestone,” the CEO said.

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