{"id":562172,"date":"2021-05-10T03:54:10","date_gmt":"2021-05-10T03:54:10","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/10\/new-ridesharing-app-to-challenge-ubers-local-monopoly\/"},"modified":"2021-05-10T03:54:10","modified_gmt":"2021-05-10T03:54:10","slug":"new-ridesharing-app-to-challenge-ubers-local-monopoly","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/10\/new-ridesharing-app-to-challenge-ubers-local-monopoly\/","title":{"rendered":"New ridesharing app to challenge Uber\u2019s local monopoly?"},"content":{"rendered":"

<\/a> UK-based ridesharing app <\/strong>UVA<\/a><\/strong> is preparing to launch its services in Egypt next<\/strong> month<\/strong>, Al Masry Al Youm<\/a> reports. The app plans to start with 3k drivers in Cairo and Giza, the newspaper quotes a company official as having said. UVA will offer \u201ccompetitive prices,\u201d the official added.<\/p>\n

The launch would bring a new entrant into Egypt\u2019s ridesharing space<\/strong>, which has been largely dominated by Uber since its USD 3.1 bn acquisition of regional rival Careem<\/a> last year, despite the Egyptian Competition Authority\u2019s best efforts<\/a> to keep the market competitive after the merger. Among other stipulations, the authority required Uber to provide potential competitors and new market entrants with access to its mapping data and data aggregated from trips, as well as customer and driver data.<\/p>\n

IN OTHER INVESTMENT NEWS-<\/strong><\/p>\n

Metito to pour mns of USD into Egypt operations:<\/strong> UAE-based water treatment company Metito has announced plans (pdf)<\/a> to earmark 50% of the USD 20 mn loan<\/a> it recently secured from the International Finance Corporation (IFC) to its Egypt unit. The money will be used to support liquidity and provide additional working capital, rather than to make capital investments, it said.<\/p>\n

The loan was disbursed as part of the IFC\u2019s USD 8 bn covid financing facility<\/strong>, deployed to support businesses through the pandemic. Metito was the first MENA infrastructure company to get its hands on the funding, receiving it in March.<\/p>\n","protected":false},"excerpt":{"rendered":"

UK-based ridesharing app UVA is preparing to launch its services in Egypt next month, Al Masry Al Youm reports. The app plans to start with 3k drivers in Cairo and Giza, the newspaper quotes a company official as having said. UVA will offer \u201ccompetitive prices,\u201d the official added. The launch would bring a new entrant […]<\/p>\n","protected":false},"author":1,"featured_media":562173,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7272],"tags":[72,125,328,207,441],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-562172","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-enterpriseam","tag-investment-watch","tag-ride-hailing","tag-transport","tag-uber","wpautop","entry"],"acf":{"mongo_id":"ee06983b-8ffe-4c11-bbe2-52d43c8376d0","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/5\/95.jpg","photo_position":"above","related_issue":[562165],"teaser":"","voice_url":""},"yoast_head":"\nNew ridesharing app to challenge Uber\u2019s local monopoly? - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/10\/new-ridesharing-app-to-challenge-ubers-local-monopoly\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New ridesharing app to challenge Uber\u2019s local monopoly?\" \/>\n<meta property=\"og:description\" content=\"UK-based ridesharing app UVA is preparing to launch its services in Egypt next month, Al Masry Al Youm reports. 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The company has also raised the price per kilometer by EGP 1.5 and EGP 1.7 for the regular and\u2026","rel":"","context":"In "Automotive + Transportation"","block_context":{"text":"Automotive + Transportation","link":"https:\/\/enterpriseam.com\/egypt\/category\/automotive-transportation\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":631122,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/11\/egypts-social-norms-restrict-more-women-from-participating-in-the-ridesharing-industry\/","url_meta":{"origin":562172,"position":1},"title":"Egypt\u2019s social norms restrict more women from participating in the ridesharing industry","author":"enterpriseam admin","date":"11 March 2018","format":false,"excerpt":"Social and cultural norms in emerging markets including Egypt are restricting the extent to which women seek employment in the booming ridesharing industry, according to a report from the International Finance Corporation (pdf). The report finds that apps such as Uber and Lyft hiring women drivers could lead to positive\u2026","rel":"","context":"In "EGYPT IN THE NEWS"","block_context":{"text":"EGYPT IN THE NEWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-in-the-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":631652,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/25\/halan-a-ridesharing-app-for-tuktuks-and-motorcycles-closes-in-on-usd-2-mn-fundraising-round\/","url_meta":{"origin":562172,"position":2},"title":"Halan, a ridesharing app for tuktuks and motorcycles, closes in on USD 2 mn fundraising round","author":"enterpriseam admin","date":"25 March 2018","format":false,"excerpt":"EXCLUSIVE- Egypt\u2019s \u201cUber for motorcycles\u201d closes in on USD 2 mn pre-series \u2018A\u2019 fundraising round: Halan, the Cairo-based ride-sharing app targeting motorcycle and tuktuk owners that we first noted back in January, has already raised more than 75% of the USD 2 mn it is looking to land for its\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/118.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":645972,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/01\/amid-sales-slump-car-dealers-looking-to-attract-would-be-uber-and-careem-drivers\/","url_meta":{"origin":562172,"position":3},"title":"Amid sales slump, car dealers looking to attract would-be Uber and Careem drivers","author":"enterpriseam admin","date":"1 June 2017","format":false,"excerpt":"The story reads as a paid advertisement for a domestic car dealer, but the theme nevertheless holds: Where a few years back car dealers made bank selling on installments to taxi drivers through the state-backed \u201cwhite cab\u201d program, today they\u2019re angling for agreements with ridesharing apps including Uber and Careem\u2026","rel":"","context":"In "Automotive + Transportation"","block_context":{"text":"Automotive + Transportation","link":"https:\/\/enterpriseam.com\/egypt\/category\/automotive-transportation\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":543871,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/fawry-gets-in-on-the-delivery-service-bandwagon\/","url_meta":{"origin":562172,"position":4},"title":"Fawry gets in on the delivery service bandwagon","author":"enterpriseam admin","date":"22 February 2022","format":false,"excerpt":"Fawry enters the delivery service space with Roaderz: E-payments giant Fawry is setting up Roaderz \u2014 a courier delivery platform \u2014 with founder and CEO of delivery service Mylerz Samer Gharaibeh, tech solutions firm Softec, and Confida Ventures Managing Partner Ammar Zawaideh, according to a statement from Fawry. 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