Back to the complete issue
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.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.