Swvl Launches its Regional Headquarters in Riyadh as Part of GCC Growth Strategy
October 15 2024 - 7:41AM
Swvl Holdings Corp ("Swvl" or the "Company") (Nasdaq: SWVL), a
leading provider of technology-driven mobility solutions for
enterprises and governments, is excited to announce the launch of
its regional headquarters (RHQ) in Riyadh, Saudi Arabia. This move
is a key step in supporting the Company's long-term growth and
profitability plans in the Gulf Cooperation Council (GCC) by
leveraging the program's benefits and participating in government
contract opportunities.
Swvl is thrilled to be part of Saudi Arabia's
Regional Headquarters (RHQ) Program, which aligns with Saudi
Arabia’s Vision 2030 goals to diversify the economy and boost
foreign investment. By establishing this RHQ in Riyadh, Swvl
intends to leverage the program’s incentives to support its
long-term expansion plans and fuel Swvl’s growth strategy across
the region while contributing to Saudi Arabia’s ambitions of
becoming a global business hub.
Swvl has been providing technology-driven
mobility solutions in Saudi Arabia for the past four years,
offering both fully managed and SaaS-based transportation services
tailored to businesses' needs across various industries. By
leveraging advanced technology, Swvl enables businesses across the
Kingdom to provide high-quality transportation for employees and
staff while driving cost savings and operational efficiency. Saudi
Arabia continues to be the fastest growth and most profitable
market for Swvl.
"As we continue to grow in Saudi Arabia, we are
excited to contribute to the Kingdom’s Vision 2030 and its
ambitious digital transformation goals through strengthening our
presence and our technology-driven mobility solutions across the
region. We are proud to be at the forefront of reshaping the future
of transportation in Saudi Arabia, creating more opportunities for
businesses and communities alike." – Mostafa Kandil, CEO of
Swvl.
About Swvl
Swvl is a leading provider of technology-driven
mobility solutions for enterprises and governments. Swvl's
technology enhances transit system efficiency to deliver safer,
more reliable, and sustainable transportation solutions.
Forward-Looking Statements
This press release contains “forward-looking
statements'' relating to future events. Forward-looking statements
generally are accompanied by words such as “believe,” “may,”
“will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,”
“should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,”
“future,” “outlook” and similar expressions that predict or
indicate future events or trends or that are not statements of
historical matters. These forward-looking statements include, but
are not limited to, statements regarding future events and other
statements that are not historical facts. For example, Swvl is
using forward looking statements when it discusses the potential
benefits it expects to realize as part of the RHQ program,
including that it intends to leverage the program’s incentives to
support its long-term expansion plans and fuel Swvl’s growth
strategy across the region. These statements are based on the
current expectations of Swvl’s management and are not predictions
of actual performance. These forward-looking statements are
provided for illustrative purposes only and are not intended to
serve as, and must not be relied on, by any investor as a
guarantee, an assurance, a prediction or a definitive statement of
fact or probability. Actual events and circumstances are difficult
or impossible to predict and will differ from assumptions. Many
actual events and circumstances are beyond the control of Swvl.
These statements are subject to a number of risks and uncertainties
regarding Swvl’s business, and actual results may differ
materially. In addition, forward-looking statements provide Swvl’s
expectations, plans or forecasts of future events and views as of
the date of this communication. Swvl anticipates that subsequent
events and developments could cause Swvl’s assessments and
projections to change. However, while Swvl may elect to update
these forward-looking statements in the future, Swvl specifically
disclaims any obligation to do so. These forward-looking statements
should not be relied upon as representing Swvl’s assessments as of
any date subsequent to the date of this communication. Accordingly,
undue reliance should not be placed upon any forward-looking
statements. Except as otherwise required by law, Swvl undertakes no
obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated
events. More detailed information about the risks and uncertainties
affecting the Company is contained under the heading “Risk Factors”
in the Company’s annual report on Form 20-F for the fiscal year
ended December 31, 2023 filed with the U.S. Securities and Exchange
Commission (the “SEC”), which is available on the SEC’s website,
www.sec.gov, and in subsequent SEC filings.
Investor Contact
Investor.relations@swvl.com
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