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Sunday, 8 July 2018

Ride-hailing Apps regs to be issued in September

LEGISLATION WATCH- The executive regulations of the Ride-Hailing Apps Act will be issued in September, government sources said on Saturday. The regulations will outline licensing requirements and fees for ride-hailing companies such as Uber and Careem. Under the act, which was signed into law last month, companies will be required to pay up to EGP 30 mn (up from the EGP 10 mn cap previously suggested) for a five-year operating license. Companies will also pay a 25% down payment on these licenses and will pay the remaining fees in instalments over the five-year licensing period. Companies have six months to comply with the act (we’re hoping that’s six month from the time the regulations are issued, but…).

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