Egyptian transport start-up Swvl sees profit by 2024

The company aims to expand to 30 cities in 20 countries by 2025, including Malaysia, Indonesia, Philippines, southern and western Europe, Brazil and Mexico..

CAIRO: Transport start-up Swvl, based in Dubai and Cairo, expects to turn its first profit in 2024 as it expands into new countries, its chief financial officer Youssef Salem said on Thursday.

Swvl last month announced a merger with U.S.-based Queen's Gambit Growth Capital that will allow the company to list on the U.S. Nasdaq stock exchange.