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Uber confirms investment commitment to Egyptian market

Uber confirms investment commitment to Egyptian market

ArabFinance: Emil Michael, Uber’s Chief Business officer, visited Cairo this week with Uber. During his visit, Michael had a number of meetings with key stakeholders where he met with H.E Dr. Sahar Nasr, Minister of Investment and International Cooperation and H.E Dr. Galal Said, Minister of Transportation as the ridesharing technology company works towards helping governments and organizations transition to an on-demand economy.

RiseUp, the platform that connects entrepreneurs with relevant resources hosted Emil Michael in a fireside chat discussing his career and advice for young people in Egypt. . During the talk Michael shared his thoughts about entrepreneurship in Egypt saying “At Uber, we are passionately committed to our idea, our product, and our industry. When I came here to Egypt I saw the same passion amongst a lot of startups. I had a feeling that Egypt is the new Silicon Valley; it is a fertile ground for startups. The Egyptian entrepreneurship ecosystem is the perfect test market for many types of new products and services at the forefront of technology. And the unique combination of history, resources, and people in Egypt makes us keen to keep investing in the Egyptian market.” commented Michael.

Emil also met with Egypt’s top 20 startups over dinner and discussed raising capital, building and scaling a company and his perspective on growing a successful business in Egypt.

During his visit, Uber hosted 50 of their top performing driver partners and their families along with two Al Ahly stars, Abdallah El Said and Ahmed Fathy at a special driver's’ appreciation event. “It was great to meet the impressive men and women behind Uber’s success in Egypt. 40% of driver partners were previously unemployed and we are committed to investing further into Egypt to create more economic opportunities across the country.

Uber has a long-term commitment since launched in Egypt to creating tens of thousands of jobs and entrepreneurship opportunities. It creates over 50,000 work opportunities for drivers each month in Egypt.

 

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