Egypt is the first country to roll out the product in MENA to support locals as the country coexists with the virus.
The launch comes as part of Uber’s continuous efforts to adapt its technology to build a wide range of products that meet the needs of local markets.
According to the ride hailing company, it is taking unprecedented actions to help everyone who uses its app stay safe and healthy while on trip.
They expressed in a meeting with Minister of International Cooperation Rania al-Mashat their desire to increase fruitful cooperation with the Egyptian Government.
Uber'sspokesperson stated thatUberwelcomedthe Egyptian Competition Authority's decision to approve Uber's pending acquisition of Careem.
“We are deeply gratified to hear the President’s appreciation for Uber’s social and economic impact," GM of Uber Middle East and Africa Anthony Le Roux said.
The biggest players are Careem and Uber, which had its IPO in May and posted a wider third-quarter loss on Monday as it tries to outspend competitors.
Egyptian transport technology start-up Swvl will expand into two cities in Pakistan in the next two weeks.
To Wall Street, it may not matter much. The company’s growth rate slowed to 2.3% in the fourth quarter over the previous quarter, which makes its annual loss of more than $3 billion all the more worrisome.
Both parties will not implement the agreement until ECA renders a final decision.
The company would receive SAR 565 million in cash, as well as the acquisition of convertible bonds at Uber for SAR 685 million.
The transaction is expected to close in Q1 2020.
Egypt's top administrative court on Saturday lifted a ban on operations by ride-hailing companies Uber and Careem.
This agreement comes as a result of the fruitful cooperation between the Tax Authority and Finance Ministry to settle any tax or customs conflict.
The two companies affirmed in their appeal that their applications were legal and licensed by the Investment Ministry.
The talks took up means of increasing the company's activities in Egypt.
His pitch worked: Hyundai agreed to buy a 12 percent stake in Luxi for $5 million, its first investment in a car-sharing firm as it joined rivals in the race for new-age transportation.
Uber Technologies Inc has filed paperwork for an initial public offering, according to three people with knowledge of the matter.
According to Uber, this step comes within the framework of the company’s plan to pump investments in Egypt by $100 million within 5years.
The Information Commissioner’s Office in Britain fined the company 385,000 pounds while the Dutch Data Protection Authority imposed 600,000 euro fine.