Bus-hailing service Swvl shuts commuter service, cites tough economic times

Egyptian bus-hailing service Swvl has announced plans to shut its intra city rides in the country effective Friday, June 3, citing tough economic times.

The company that ventured into the Kenyan market in July 2019 also suspended Swvl Travel from May 30.

The firm said, in a statement, that it will only continue to operate Swvl Business which caters to corporations, organisations and private entities.

“In light of the global economic downturn, we are pausing our Swvl Daily Intra-city rides in Nairobi next Friday the 3rd of June, 2022, and Swvl Travel on Sunday the 30th of May, 2022,” the firm said.

The company was operating in the country with three different solutions Swvl Daily, tailored for intra-city rides in Nairobi, Swvl Travel tailored for city-to-city rides and Swvl Business tailored for business-to-business rides.

In 2020 the company had rolled out a service allowing commuters to use the platform for long-distance travel in Kenya.

The new service offered commuters the opportunity to book and pay for their upcountry trips through the Swvl app to over 12 destinations including Naivasha, Nakuru, Molo, Eldoret, Narok, Bomet, and Kericho, Kisii, Kisumu, Nyeri, Nanyuki and Machakos.

Globally, the firm announced plans to lay off its workforce by 32 percent in a number of countries as part of its plan to become profitable by 2023.

By Brian Ngugi 1 hour ago
Premium Inflation headache for CBK as shilling tumbles to record low
By Elaine Kirui 7 hours ago
Former KTDA board members in attempted take-over
By AP 16 hours ago
Pound falls to 37-year low against dollar as recession looms
SBM Bank fights back against rival's Sh900m deposits claim