Delivery app Glovo plans to invest EUR 5.1 mn in Egypt next year to expand in cities surrounding Cairo and Alexandria and launch marketing campaigns, co-founder Sacha Michaud told reporters at a press conference yesterday, according to Al Mal. Glovo is also expected to sign contracts with eight hypermarket brands next month. The company had suspended operations in Egypt for five weeks due to difficulties in funding and studying market demand, Michaud said, adding that the company is not planning to return to Chile or Brazil, two markets it has recently exited. The ECA had accused Glovo of a deliberate, anti-competitive arrangement when it began directing users to Otlob, the food delivery app owned and operated by Delivery Hero, which owns 16% of Glovo.

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