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    • What's happening with Swvl?

      What’s happening with Swvl?

      Swvl, an Egyptian ridesharing company, has seen a significant decline in value due to financial struggles, resulting in a 99% drop in stock price year-to-date (YTD), hovering around $0.10 and a market capitalization of less than $15 million. Reported Bloomberg. Swvl laid off 32% of its employees to cut costs. Swvl was founded in Egypt in April 2017, by Mostafa Kandil and two of his school friends, Ahmed Sabbah and Mahmoud Nouh. The company was…

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