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Wednesday, 28 July 2021

Bosta plans to land in Saudi Arabia by early next year

Egyptian courier startup Bosta plans to enter the Saudi market by early 2022, as part of the company’s plans to expand its presence in the Gulf region, co-founder and COO Omar Yaghmour told Al Mal. The company is also eyeing the UAE and Kuwait Yaghmour said. Bosta seems to have slightly delayed its plans, having previously said it would expand to the UAE and Saudi Arabia expansion in 2021, and to as many as seven countries in the coming five years.

Why Saudi Arabia? Saudi Arabia and the UAE account for almost half of the e-commerce industry in the Middle East and are both promising growth markets, Yaghmour said. The company also plans to expand further in Africa and is currently considering an entry into Kenya, Morocco, and South Africa.

The company is also coming off a bumper series A funding round that saw it raise USD 6.7 mn in May from several international and regional VC outfits.

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