Making the most efficient use of roads is more important to improving transportation than building new roads, Careem CEO Mudassir Sheikha tells Bloomberg. “We believe ride-hailing, or a version of it, is the best way to build public transport today … [There’s a Middle Eastern city] that’s building a metro bus system for [USD 700 mn] that will transport 200,000 people. If they invested the same amount in ride-hailing, it would have capacity for 1.5 mn people and create 100,000 jobs,” Sheikha says. He adds that investment in technology could also create alternatives to new public transport systems: “Autonomous vehicles are on the horizon. We’re looking at it and have partnered with a company out of the Bay Area making self-driving electric pods.”

On a related note, Careem announced that it has partnered with Sarwa Capital to help provide drivers with financing for new cars, Al Mal reports.

Also from the transport apps space, recently-launched courier and shipping services company Trukto is planning an expansion both in Egypt and abroad, company sources tell the newspaper. The app, which currently operates in Cairo and Alexandria, is eyeing further expansion and is looking to get a fleet of 15,000 trucks by 2019. The company is also looking to launch operations in Saudi Arabia in 1Q2018.

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