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Monday, 28 October 2019

Spain’s Glovo eyes 50% share of Egypt’s online delivery market

Glovo wants half of Egypt’s delivery market: Delivery app Glovo plans to more than double its share of Egypt’s online delivery market to 50% within 18 months, up from its current 21% share, sales manager Mustafa Kamel told Reuters in an interview. Glovo plans to expand to 16 cities by the end of 2020, and had said earlier this month it intends to invest EUR 5.1 mn in Egypt next year to finance this expansion. The company had suspended operations in Egypt earlier this year, saying at the time it was exiting the market altogether, only to relaunch its services five weeks later. The Egyptian Competition Authority accused Glovo and Delivery Hero of anti-competitive practices following its exit, and ordered Glovo to resume operations in Egypt within 30 days.

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