Careem plans to triple its investment in Egypt in 2022, Haitham Essam, head of the company’s Egypt business, told Ahram Online. The ride-hailing company wants to have deployed USD 11 mn in its local operations by the end of the year, up from USD 3.6 mn at the end of 3Q2021, he said.

Planned expansion: Careem, a subsidiary of US ride-hailing giant Uber, is planning to branch out into new sectors, following its parent into food delivery and courier services as well as digital payments. It’s unclear from Essam’s interview with the state-owned newspaper how much the company plans to spend on these new ventures versus expanding its existing ride-hailing business.

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