Arab Finance: The Egyptian ride-sharing company Swvl Holdings Corp is planning to regain its 2022 business volume, as a unicorn company, within the coming two years, the company’s CEO and Co-Founder Mostafa Kandil told Asharq Business.

A unicorn company is a startup firm that is valued at $1 billion or more.

Kandil noted that getting back to the company’s 2022 business volume would be achieved by focusing on expanding in the fast-growing markets with high purchasing value, along with the Egyptian market.

The Nasdaq-listed firm, which is currently operating in Egypt, Saudi Arabia, and the UAE, has changed its strategy to focus on developed markets instead of the developing ones, Kandil pointed out.

He added that that Egypt will be the only developing country in which the company will expand.

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