SWVL—an application based-bus-hailing service, has made the announcement that it would be investing $25 million in Pakistan.
The news came after the ٰEgypt based firm further expanded into Pakistan and launched its services in the provincial capital of Sindh.
The $25 million investment could quickly change the way people travel in the 3 big cities of Pakistan. By selecting a bus or a van not only people save on their financial resources but also have an affordable way to travel to their desired location.
SWVL refers itself as an easy and convenient, trustable and affordable solution. It has the aim of revolutionizing the way people in the developing nations commute by operating buses on fixed routes that users could book seats in via the SWVL app.
Mostafa Kandil—the founder of SWVL in an interview said that they have plans of mobilizing half a million Pakistanis by 2023 and by creating ten thousand jobs annually.
He said that they are also planning to start an incubator for funding the pre-seed start-ups for kickstarting a healthy technology ecosystem in the country. Furthermore, the company plans to open an offshore support and engineering office in Pakistan.
The plan of SWVL of creating jobs and mobilizing the citizens would have a significant positive impact on the country’s economy. This planned investment indicates the influence of start-ups in the Pakistani ecosystem and how they could help in improving the complete lifestyle of the nation and create new opportunities.