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Monday, 10 June 2019

Swvl announces expansion into Nigeria in July

STARTUP WATCH- Swvl says it will expand into Nigeria in July: Egyptian transportation startup Swvl has announced that it is expanding into Nigeria, with initial plans to launch 50 buses in Lagos by mid-July, MENAbytes reports. The mass transit app listed the role of Country General Manager for Nigeria last week, calling for an experienced leader “to continue the growth of Swvl in Lagos and in other Nigerian cities.” Swvl entred Kenya earlier this year, but reports it would move from there into neighboring Uganda remain unconfirmed. Swvl has for some time set its sights on expansion beyond MENA, with CEO Mostafa Kandil say last year that he planned to launch in Manila in 1Q2019 and then expand throughout Southeast Asia to reach seven megacities by the end of 2019.

Competing with the homegrown apps: Swvl will face both direct and indirect competition in Nigeria, with several homegrown and international ride-hailing apps appearing in the local market during recent years. Kandil, however, appears sanguine in the face of competition, announcing earlier this year that the company had seen a fourfold growth in signups since the launch of Uber Bus in Cairo, and pointing out that in emerging markets “one single player is not enough to build the network.”

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