Browsing: Transportation

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Egyptian startup Swvl making giant moves across the globe

Tech & Business
  • The African firm which provides shared transportation services for both intracity and intercity movement acquired the Turkish firm at around US$40 million
  • Swvl currently repurposes underutilized, privately owned buses or minivans for different purposes throughout the day
  • Swvl said the acquisition of Volt Lines would add an incremental US$4.3 million of annualized revenue to its balance sheet

 

Egyptian startup Swvl has expanded into Turkey after it recently acquired B2B transportation-as-a service operator Volt Lines. 

The African firm which provides shared transportation services for both intracity and intercity movement acquired the Turkish firm at around US$40 million.

The acquisition now gives Swvl access to Volt Line’s tech as well as over 110 corporate client contracts. 

Swvl currently repurposes underutilized, privately owned buses or minivans for different purposes throughout the day. 

Some of these include shuttling intercity commuters along fixed routes, providing rides between cities and driving corporate employees to work …

The civil society meeting on revenue in Senegal. www.theexchange.africa

Senegal ‘resource curse’ lessons from mistakes of other African countries

Senegal

Senegal is looking towards learning from the mistakes of other African countries in an attempt to reverse the so-called “resource curse” that plagues many oil and gas producing African countries. In a further demonstration of enlisting public opinion, such a broad meeting was called to brain-storm for ideas and incorporate into a national development programme.
“It is extremely import to remind you all today, we remain convinced that the promotion of a participatory, multi-institutional, and collaborative approach is imperative for capable governance and guaranteeing sustainable prosperity,” stated President Macky Sall of the Republic of Senegal.
Under this new legislation, the citizens of Senegal will have a seat at the table, with civil society to play a leading role in driving the discussion surrounding the monetization of the country’s oil and gas industry. This landmark act will ensure a trickle-down economy that guarantees investments within petrochemicals, agriculture, power, gas, and transportation, …