Uber Egypt achieves 80 per cent recovery rate
Uber Egypt has achieved a recovery rate of 80 per cent, Uber Egypt’s general manager Ahmed Khalil announced at RiseUp Summit 2020, adding that the company looks to fully recover next year.
Shortly after Covid-19 began spreading across the world, the company shut down its food delivery business Uber Eats in several markets, including Egypt, in an attempt to preserve costs and avoid more losses, especially after the company’s ride-hailing services were dramatically affected by the subsequent lockdown.
“In Egypt, we had to shut down one of our two businesses, which came as part of a global push to focus our resources in our top markets,” said Khalil.
Throughout the past period, the company has leveraged partnerships with others across different industries to better respond to the crisis and scale its operations.
“For example, we partnered with Nacita auto care to sanitise 1000s of vehicles, and distribute more than 300,000 masks to our drivers for free.”
Similar to other mobility companies, Uber has introduced new services to help revive its business and make up for the losses it incurred in the ride-hailing space. These products include intercity bus service, and Uber Connect, which is a delivery tech solution for the transportation of goods, among others.
Khalil concluded his talk by saying: “If Covid19 has taught us anything; first, it is the importance of acting fast, but not to overreact and always keep the long term in mind, and the importance of having a positive P&L, meaning that any business should definitely have to spare some resources to help get it through the tough situations that might abruptly arise. And lastly [it] is to leverage partnerships.”
Over the last weekend, RiseUp Summit’s virtual edition took place under the theme of “Reset” which came almost three months after the company held its special edition, RiseUp From Home “Got Grit”, held in response to the pandemic, to help educate the tech community on how to confront businesses challenges caused by the crisis and how to prepare for similar threats.
