EBRD and Swvl to advance safety for women on public transport in Egypt
February 10, 2022
The European Bank of Reconstruction and Development (EBRD) is supporting the expansion of bus transportation in Egypt, boosting its quality and improving access to transport for women by investing in Swvl, an on-demand bus-hailing company.
The Bank signed a subscription agreement to invest US$ 10 million in Pivotal Holdings Corp, a wholly owned subsidiary of Swvl Inc. Swvl is expected to be the first technology unicorn of Middle Eastern origin to list on NASDAQ; its initial valuation is estimated at around US$ 1.5 billion.
By collaborating with Swvl and capitalising on its high-quality services, the Bank expects to help build on the company’s strong focus on women’s safety in shared mobility. This already includes safety features such as digital emergency buttons and a one-seat-per-passenger policy.