DUBAI, UAE, Sept. 29, 2021 /PRNewswire/ -- Swvl Inc.
("Swvl" or the "Company"), a Dubai-based provider of transformative mass
transit and tech-enabled shared mobility solutions, today announced
the publication of its first annual Environmental, Social and
Governance ("ESG") Report. The report highlights Swvl's continued
commitment to empowering individuals to realize greater social and
economic equity, operating with sustainable business practices that
protect the planet, supporting the societies in which it operates,
advancing diversity, equity and inclusion, and creating value for
all stakeholders.
Mostafa Kandil, Swvl Founder
and CEO, said, "As a young and rapidly growing company, we have
made tremendous progress towards our goal of removing
barriers to seamless mobility for the masses, while making a
significant positive environmental impact. Swvl is a mission-driven
company focused on leveraging our platform for the betterment of
society, and we take the role that we play in the lives of all Swvl
stakeholders extremely seriously. We are delivering a more
sustainable future for the world through our differentiated mass
transit solutions, in turn creating value for all
stakeholders."
Swvl's ESG strategy, "Right to Mobility" focuses on addressing
safety, accessibility, societal and environmental challenges with
differentiated mobility solutions:
- Humanizing the daily commute: In developing markets' public
transport systems, three in five women report experiencing sexual
harassment. Rides across the public transport systems in these
markets can be as much as ~23 minutes late, and the maximum walking
distance to a bus stop is ~1.26km, with a worldwide average of 18.2
road-related fatalities per 100,000 inhabitants. Swvl provides a
safe and reliable daily commuting experience to its student
customer base, which is 51% female, while achieving a 99.98%
accident-free rate. Swvl reduced the average walking distance to
bus stops in developing markets to ~0.64km. Swvl also reduced the
average lateness across the network in developing markets to ~5.3
min, representing a 50% improvement compared to developed
markets.
- Enabling our societies: The annual cost of traffic in the U.S.
is $88bn, while the cost of
Cairo's congestion as a percentage
of Egypt's GDP is ~4%. Swvl has
successfully addressed these challenges by reducing ~14.4m
person-hour of congestion and generating income for ~17,000 Swvl
micro-entrepreneurs while actively providing female drivers with
equal economic access and opportunities as their male
counterparts.
- Caring for the planet: The transport sector is the
second-highest contributor to CO2 emissions globally, with ~7.9bn
pounds annually on a per capita basis. Swvl has saved ~245m pounds
of CO2 emissions and introduced the first electric vehicles in
Cairo, demonstrating its
commitment to reducing the transport sector's carbon footprint
across the globe.
- New initiatives: Swvl is focused on sourcing female captains
across its geographies and providing them with equal economic
access and opportunities as their male counterparts. With 51% of
Swvl's student customer base being female, Swvl is actively scaling
its proportion of female captains to ensure social justice for
riders and financial inclusion for captains. Swvl has also launched
a new partnership program with banks facilitating captains' access
to financing to buy and run their own buses. Beginning with
Egypt, Swvl has already attracted
an initial group of female captains, and plans to introduce the
program to other geographies during the fourth quarter of this
year.
Youssef Salem, Swvl CFO,
said, "Swvl is built on a core ESG mission: the right to
sustainable mobility. This includes protecting the planet by
increasing ride sharing options to reduce number of vehicles on the
road, ensuring riders have access to safe and affordable transit
regardless of income level, and advocating for captains by
increasing their earnings and attracting female captains into what
has been a predominantly male dominated industry. We are also
focused on working with governments to reduce their mass transit
burdens so they can redirect resources to important areas such as
education, healthcare, and research and development. Our mission is
and will continue to result in significant value creation for all
our stakeholders."
On July 28, 2021, Swvl announced a
$1.5bn business combination with
Queen's Gambit Growth Capital (NASDAQ: GMBT). Core to the
companies' partnership is a fundamental alignment on strong ESG
principles, most recently demonstrated through Swvl's appointment
of three highly experienced women and technology leaders to the
combined company's Board of Directors upon completion of the
transaction. Swvl believes that diversity in business is essential
to long-term value creation, and the additions of Victoria Grace, Lone Fønss Schrøder, and
Esther Dyson to the Swvl Board of
Directors will ensure that the combined company's leadership
reflects the diversity of its users and growing employee base,
while providing value expertise to advance Swvl's next phase of
growth.
About Swvl
Swvl is a global tech startup based in Dubai that provides a semi-private alternative
to public transportation for individuals who cannot afford or
access private options. The Company builds parallel mass transit
systems offering intercity, intracity, B2B and B2G transportation,
and currently operates in 37 cities across 16 countries. Swvl's
tech-enabled offerings make mobility safer, more efficient and
environmentally friendly, while still ensuring that it is
accessible and affordable for everyone. Customers can book their
rides on an easy-to-use app with varied payment options and access
high-quality private buses and vans that operate according to fixed
routes, stations, times, and prices.
Swvl was co-founded by Mostafa
Kandil, who began his career at Rocket Internet, where he
launched the car sales platform Carmudi in the Philippines, which became the largest car
classifieds company in the country in just six months. He then
served as Rocket Internet's Head of Operations. In 2016, Kandil
joined Careem, a ride-sharing company and the first unicorn in the
Middle East. He supported the
platform's expansion into multiple new markets. Careem is now a
subsidiary of Uber, based in Dubai, with operations across 100 cities and
15 countries.
For additional information about Swvl, please visit
www.swvl.com.
Media Contact
Daniel Yunger
Kekst CNC
kekst-swvl@kekstcnc.com
917-574-8582
Investor Contact
Youssef Salem
Swvl CFO
Investor.relations@swvl.com
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SOURCE Swvl Inc.