Swvl Unveils “Right To Mobility” ESG Strategy And Launches New Sustainability Initiatives PRNewswireSwvl Unveils “Right To Mobility” ESG Strategy And Launches New Sustainability Initiatives PRNewswireSwvl Unveils “Right To Mobility” ESG Strategy And Launches New Sustainability Initiatives PRNewswire
Impact Investing Forum 2023
London. Dec 05-06, 2023.
Swvl’s ESG strategy addresses fundamental issues with mobility solutions. Swvl reduces congestion by 14.4m people-hours, saves 245m pounds of carbon dioxide, and generates income for 17,000 microentrepreneurs. Swvl Inc. (or the “Company”) is a Dubai-based provider, of transformative mass transit and tech enabled shared mobility solutions. Today, Swvl published its first annual Environmental and Social Governance (“ESG”) report. The report highlights Swvl’s commitment to empowering individuals to realize greater socio-economic equity, operating with sustainable business practices to protect the planet, supporting societies where it operates, advancing diversity and equity, and creating value to all stakeholders. Mostafa Kandil is the founder and CEO of Swvl. He stated, “As an emerging company, we have made great progress towards our goal to remove barriers to seamless mobility for all, while also making a significant environmental impact. Swvl is a mission-driven business that uses its platform to improve society. We take the responsibility for all Swvl stakeholders very seriously. Our differentiated mass transit solutions are creating value for all stakeholders and ensuring a more sustainable world. Swvl’s ESG strategy “Right to Mobility” addresses safety, accessibility, and environmental issues. It also focuses on humanizing the daily commute. Three in five women in developing countries report being subject to sexual harassment. These markets have a high number of public transport systems that can be delayed up to 23 minutes. The maximum distance from a bus stop to walk is approximately 1.26km. There are an average 18.2 road-related deaths per 100,000 people. Swvl offers a reliable and safe daily commute to its student customers, 51% of whom are female. The company also has a 99.98% accident-free rate. Swvl reduced the average distance from bus stops in developing countries to 0.64km. Swvl also saw a 50% reduction in the average lateness of the network in developing countries to 5.3 minutes, which is a 50% improvement over developed markets. Enabling our societies: The U.S. traffic cost is $88bn annually, while Cairo’s congestion cost is 4% of Egypt’s GDP. Swvl has been able to address these issues by reducing congestion at the intersection of 14.4m people per hour and generating income for 17,000 Swvl microentrepreneurs. Swvl also actively provides female drivers with the same economic access and opportunities. Caring for the planet: The transport industry is the second-highest contributor of CO2 emissions worldwide, at 7.9bn per capita. Swvl has reduced CO2 emissions by 245mlb and introduced electric vehicles to Cairo. This demonstrates its commitment to reducing carbon footprint in the transport sector. Swvl has new initiatives: Swvl is focusing on finding female captains in its various geographies and giving them the same economic access and opportunities. Swvl has 51% female students and is working to increase the number of female captains in order to ensure social justice and financial inclusion for all riders. Swvl also launched a partnership program with banks that allows captains to access financing to purchase and operate their own buses. Swvl began with Egypt and has attracted a group of female captains. The program will be expanded to other countries in the fourth quarter. Swvl’s CFO, Youssef Salesm, stated that the core ESG mission of Swvl is to promote sustainable mobility. This includes increasing ridesharing options to reduce the number of vehicles on the roads, ensuring that riders have safe and affordable transit, advocating for captains by increasing earnings and attracting women captains to an industry that has historically been dominated by men. We also work with governments to reduce the burden of mass transit so that they can redirect resources to areas like education and healthcare. Our mission is to create significant value for all of our stakeholders. Swvl announced a $1.5bn business merger with Queen’s Gambit Growth Capital (NASDAQ GMBT) on July 28, 2021. The core of the partnership between the companies is an alignment on strong ESG principles. This was recently demonstrated by Swvl’s recent appointment of three highly-experienced women and technology leaders as members of the combined company’s Board of Directors. Swvl believes diversity is key to long-term value. The additions of Victoria Grace and Lone Fonsss Schroder to the Swvl Board of Director will ensure that the combined company’s leadership is representative of the diverse user base and growing employee base. They will also provide value expertise to help Swvl move into the next phase of its growth. Swvl is a global startup that offers semi-private alternatives to public transportation for those who cannot afford them or have limited access. The company currently operates in 37 cities in 16 countries and builds parallel mass transit systems that offer intercity, intracity and B2B transportation. Swvl’s tech-enabled services make mobility safer and more efficient, while still making it affordable and accessible for all. Customers can book their rides using an easy-to use app that offers a variety of payment options. They also have access to high-quality private buses or vans that operate according fixed routes, stations and times as well as prices. Mostafa Kandil founded Swvl. He started his career at Rocket Internet. There he launched Carmudi in Philippines, a car sales platform. It was the Philippines’ largest car classifieds site in six months. After that, he was Rocket Internet’s Head Of Operations. Kandil joined Careem in 2016, a ride-sharing service and the first unicorn in Middle East. He helped the platform expand into new markets. Careem, now a subsidiary Uber, is based in Dubai and has operations in 100 cities and 15 other countries. Visit www.swvl.com for more information about Swvl. Media Contact Daniel Yunger
917-574-8582 Investor Contact Youssef Salem
[email protected] SOURCE Swvl Inc. Related Links http://www.swvl.com
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