Dubai's Careem to test bus service in Egypt

Careem Bus - a division aimed at attracting low-income earners - will initially go live in at least four Egyptian cities, before rolling out in other countries
Dubai's Careem to test bus service in Egypt
Uber has held preliminary talks to merge with its local competitor.
By Bloomberg
Tue 14 Aug 2018 07:59 AM

Careem Networks, the Middle Eastern ride-hailing provider, is testing a bus-booking service ahead of a possible roll-out out across all 14 countries it operates in.

Careem Bus - a division aimed at attracting low-income earners - will initially go live in at least four Egyptian cities, and is expected to be rolled out in September, according to people familiar with the business who asked to remain anonymous since plans aren’t public yet.

A Careem spokeswoman didn’t immediately respond to a request for comment.

The people did not disclose how much the Dubai-based company is investing in this project, but indicated that significant capital has been allocated for it.

Competition with Uber Technologies Inc. is pushing Careem to look at expanding into other services including food and package delivery. Uber has held preliminary talks to merge with its local competitor, people familiar with the matter previously told Bloomberg.

Careem has also been speaking with investors to raise $500 million, and has held early talks with banks about a potential IPO in January.

For all the latest transport news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.