ISLAMABAD – *Leading Egyptian Company to make big investment in Pakistancreating ten of thousands of jobs.*
Swvl LLC, the Egyptian bus transportation network startup, plans to invest$25 million in Pakistan in the coming years which would also help generateover 10,000 jobs.
“The major portion of the $25 million would be invested in building a masstransit system like putting in buses and scaling up the demand,” *ArabNews *quoted Swvl Manager General Shahzeb Memon. “We have plans ofmobilizing half a million annual consumers by 2023 and creating 10,000 jobsa year.”
Memon was of the view that his company aims to provide mass transit systemto the budding middle class in urban areas. “In Pakistani emerging marketslike Karachi, there is no proper public transport system available. So, wecome in and take the burden off the government,” Memon said. “We are hereto put in the mass transit system for the big middle class, where weutilize buses to generate enough demand for them.”
“The company is operating on more than 150 routes in Karachi, Lahore,Rawalpindi, and Islamabad,” Memon said. “Our main focus is to build ourcustomer base in these densely populated cities; then we will go to tiertwo cities.”
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Pakistan is Swvl’s biggest market and with operations in four cities, theEgyptian company also plans to set up a foreign support office here.
“We are planning to open an offshore support office in Pakistan as laborhere is cheaper…. We are also looking into the possibility of opening anengineering office in Pakistan to build the technology as Pakistan has someof the best talents in the world and we would like to utilize it,” saidMemon.
