Swvl Holdings Corp.

Equities

SWVL

VGG863021256

Passenger Transportation, Ground & Sea

Market Closed - Nasdaq Other stock markets 04:00:00 2024-04-24 pm EDT			5-day change	1st Jan Change
11.47 ^USD	+2.41%		+51.52%	+585.35%

Feb. 13	Swvl Holdings Corp. Appoints Youssef Samy El-Sayed Fathy Salem to Serve as Director of the Board	CI
2023	Swvl Holdings Corp. Reports Earnings Results for the Half Year Ended June 30, 2023	CI

SWVL Suspends Intra-City Rides in Kenya

June 02, 2022 at 10:06 am EDT

Egyptian ride-hailing service, Swvl says it will suspend the daily intra city rides in Kenya beginning June 3 citing the global economic downturn.

The firm which has operated since July 2019 also suspended the Swvl Travel from May 30 and will only operate the 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 in a statement.

The firm has also announced plans to reduce its workforce by 32 percent in a number of countries as part of its plan to become profitable by 2023.

"Today, with the current global economic downturn, as much as we did everything we could to put people first, we now know that we are not able to keep everyone unimpacted. We know we have to make tough decisions in order to prioritize profitability overgrowth to ensure that Swvl thrives once we are on the other side of this," the firms' CEO Mostafa Kandil said in a letter sent to employees and partners.

Swvl Kenya had commenced the rolling out of a new innovation that will allow commuters to use the platform for long-distance travel in Kenya, as part of their travel service.

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

Latest news about Swvl Holdings Corp.

Swvl Holdings Corp. Appoints Youssef Samy El-Sayed Fathy Salem to Serve as Director of the Board	Feb. 13	CI
Swvl Holdings Corp. Reports Earnings Results for the Half Year Ended June 30, 2023	Dec. 27	CI
Swvl Holdings Gets Noncompliance Notice From Nasdaq	Dec. 27	MT
Sector Update: Tech Stocks Advance Premarket Wednesday	Dec. 27	MT
Swvl Holdings Corp. Reports Earnings Results for the Full Year Ended December 31, 2022	23-10-31	CI
Swvl Holdings Sells Urbvan Unit to Mexican Transport Company Kolors for $12 Million; Shares Jump Pre-Market	23-09-13	MT
Nexbus Digital, SAPI de CV acquired COMMUTE TECHNOLOGIES, S.A.P.I. de C.V. from Swvl Holdings Corp. for $12 million.	23-09-12	CI
Swvl Holdings Corp. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022	23-07-14	CI
BjÃ¶rn Von Sivers Announces Resignation from His Position as A Member of the Companyâ€™s Board of Directors and as an Independent Member of the Nominating and Corporate Governance Committee of Swvl Holdings Corp., Effective June 30, 2023	23-07-07	CI
Top Premarket Gainers	23-06-07	MT
Swvl Holdings Corp. Appoints Ayman Ismail to Board of Directors as Independent Member and Chairperson of Audit Committee	23-05-23	CI
Swvl Holdings Corp. Announces Resignation of Directors	23-04-10	CI
Swvl Holdings Updates Strategic Review Process	23-03-31	CI
Swvl Holdings Corp. Announces Resignation of Mr. Youssef Salem as Chief Financial Officer Effective March 31, 2023	23-03-31	CI
Swvl Holdings Approves 1-for-25 Reverse Stock Split	23-01-25	MT
Swvl Holdings Receives Notice of Non-compliance From Nasdaq	23-01-17	MT
Swvl Holdings Corp. Announces Resignation of Lone Fønss Schrøder, Member of the Board of Directors and as an Independent Member of the Audit Committee	23-01-10	CI
Top Premarket Gainers	23-01-03	MT
Swvl Launches Strategic Review Process	22-12-30	MT
Swvl Holdings Commences Strategic Review Process	22-12-29	CI
Swvl Holdings Receives Non-Compliance Notice From Nasdaq	22-11-07	MT
Alliance Global Starts Swvl Holdings at Buy With $5 Price Target	22-09-27	MT
Barclays Starts Swvl Holdings at Equalweight With $1.50 Price Target	22-09-27	MT
Baird Starts Swvl Holdings at Outperform with $8 Price Target	22-09-09	MT
Wall Street Set to Open Higher in Friday Trading as Oil Prices Surge	22-09-09	MT

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Company Profile

Swvl Holdings Corp. is a technology-driven disruptive mobility company. The Company is a provider of transformative technology-enabled mass transit solutions. It serves the customers on its platform through two offerings: business to consumer (B2C), comprised of Swvl Retail and Swvl Travel, and business to business (B2B), which includes transport as a service (TaaS) model. Its B2C Swvl Retail product offers riders with a network of minibuses and other vehicles running on fixed or semi-fixed routes within cities. Its Swvl Travel offering, riders can book rides on long-distance intercity routes on either vehicles available through the Swvl platform or through third-party services marketed through Swvl. It also offers TaaS enterprise product marketed as Swvl Business for businesses, schools, municipal transit agencies and other customers that operate their own transportation programs. The Company operates in 82 cities across seven countries.

Sector

Passenger Transportation, Ground & Sea

Calendar

2024-08-13 - Q2 2024 Earnings Release (Projected)

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