Swvl Secures 5-Year Contract Worth Up to $6.3 million with Telecom Giant, e& Egypt

 July 9, 2024

DUBAI, United Arab Emirates, July 09, 2024 (GLOBE NEWSWIRE) -- Swvl Holdings Corp (“Swvl” or the “Company”) (Nasdaq: SWVL), a leading technology provider for enterprise and government mobility solutions, has announced the closing of a 5-year contract with telecom giant e& Egypt, with approximate total value of up to $6.3 million. This represents a milestone in strengthening our footprint in the Egyptian market and solidifying our position as a leader in the mobility industry. e& Egypt is one of Egypt’s top techo operators, it operates under the framework of e& Group, providing reliable services in telecommunications and information technology, all powered by a strong vision to become the leading techo and with a deep commitment to the mission of enriching lives in an ever-changing world.

This agreement reflects Swvl's commitment to offering tech-based mobility solutions that transform daily commutes regionally and globally, particularly in high-density, dynamic workplace environments, which demand exceptional operational and technological capabilities to ensure efficiency, reliability, and an enhanced customer experience.

Mostafa Kandil, CEO of Swvl, stated, "We believe that the trust placed in us by prominent partners like e& Egypt showcases how Swvl solutions can make a significant impact on the mobility landscape and also propels us forward on our path towards profitable growth. Through this partnership, we aim to redefine industry standards, drive societal impact, and pave the way for a more sustainable future in transit.”

About Swvl

Swvl is a global technology provider for enterprise and government mobility solutions. The company’s platform provides alternatives to public transportation for individuals who cannot access or afford private options. Every day, Swvl’s parallel mass transit systems empower individuals to go where they want, when they want – making mobility safer, more efficient, accessible, and environmentally friendly. Customers can book their rides on an easy-to-use proprietary app with varied payment options and access to high-quality private buses and vans.