Bus-hailing service Swvl suspends commuter service
Business
By
David Njaaga
| Jun 02, 2022
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.
READ MORE
Constitutional and fiscal lessons from 2024 Finance Bill protests
Education PS flags possible scrapping of C4 schools
Witness says Bliss Hospital locked out Rex Masai during June 2024 protests
Jilted lover attacks woman in Bungoma
Pilot, co-pilot killed in LaGuardia runway collision
A free lecture for those who want professors to retire early
How NARC resuscitated imperial presidency that Kenyans loathed
KNEC opens KCSE registration for 8-4-4 candidates
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.
Agoa renewal offers new chance to redefine Africa's place in global trade
As global markets retreat into protectionism and nationalist economic agendas, Africa must hold firm to its integration agenda.Iran war hits kitchens as shilling slumps, forex reserves dwindle
Shockwaves of the conflict are squeezing consumers already battered by years of economic hardship.China woos Kenyan producers with '800-million opportunity' as zero-tariff deal takes effect
China has unveiled a detailed plan to integrate Kenyan producers into its high-tech industrial chains.Co-op bank shares set for further gains on strong profit growth, lower rates
Tier one lender Co-operative Bank of Kenya (Co-op Bank) shares could rise nearly a quarter over the next 12 monthsKenya slashes dollar debt to record low as Chinese yuan gains ground
President William Ruto’s administration has reduced the share of its external debt denominated in US dollars to the lowest level on record.MOST READ
- Iran war hits kitchens as shilling slumps, forex reserves dwindle
BUSINESS
By Brian Ngugi
- China woos Kenyan producers with '800-million opportunity' as zero-tariff deal takes effect
BUSINESS
By Brian Ngugi
- Co-op bank shares set for further gains on strong profit growth, lower rates
BUSINESS
By Brian Ngugi