This archive report was first published on 29 August 2019.
SWVL, a leading shuttle-hailing firm, has announced plans to inject $15 million (Sh1.5 billion) into its Kenyan operations. This significant investment will not only enhance their current services but also enable the company to scale its business into other towns and routes.
According to SWVL's co-founder and CEO, Mostafa Kandil, the Kenyan market presents a unique opportunity for a stable solution to the perennial traffic congestion. "Kenya is a market with a need for a stable solution for the perennial traffic snarl ups and SWVL believes that we can be of great benefit to the local consumer and the transport sector as a whole," he said.
Since its launch in Kenya in February 2019, SWVL has expanded its route offerings from four to fifty-five. The company plans to add more routes to cover more areas in Nairobi and begin operations outside the capital city.
Shivachi Muleji, SWVL's General Manager for Kenya, emphasized the potential for growth and value creation in the Kenyan market. "I believe the potential for growth and value creation is tremendous and given the different entities providing varied solutions, we are looking to fill a gap that has yet to be sufficiently covered by what is already available. That is what has prompted us to expand our route offering," he said.
The investment is expected to create employment opportunities and support the government in providing high-quality public transportation. As SWVL's General Manager for Kenya noted, "We see this as a win-win for us as SWVL and for Kenyans because this investment will not only allow us to grow the size of our fleet, but also by extension create employment and support the government in providing high quality public transportation," he added.
