Stars of 2018
Sat 22 Dec 2018 10:25 PM
Mudassir Sheikha and Magnus Olsson

Industry: Technology

Company: Careem

Designation: Co-founders

The tech duo launched Careem as a ride-hailing app in 2012 only to turn it into one of MENA’s most successful stories, operating in over 120 cities across 15 countries including Palestine and Baghdad, where it became the first ride-hailing service in the country. The Dubai-based company, which is valued at over $1bn, has created more than one million job opportunities in the region.

Careem’s move into mass transportation will have a huge and positive impact across the region – Mudassir Sheikha

It also unveiled its first female driver in Saudi Arabia this year, as the kingdom lifted a driving ban on women in June. The company aims to recruit more female drivers around the region to make up a total of 20,000 by 2020. However, the firm is also expanding its platform beyond ride hailing and into payments, delivery and mass transportation. This year, it launched Careem Bus in Egyptian capital Cairo. The app offers fares that are between 60 and 70 percent cheaper than the car service.