Swvl: Smart Mobility for the Masses

The case focuses on strategy and governance issues at Swvl, a tech-enabled mass mobility marketplace. It describes the journey of CEO and Chairman Mostafa Kandil on his journey from founding the company to its listing on Nasdaq. Since its founding in Egypt in 2017, Swvl grew very popular with its innovative solution that promised safe, reliable, and affordable mass commuting trips in markets where such a service was unavailable. In a short time, Swvl was able to expand geographically to neighboring and faraway markets, and become the fastest growing unicorn in the MENA (Middle East North Africa) region.
Kandil and his team wanted to become the world’s number one mass mobility provider. They worked with Queen's Gambit, a SPAC (Special Purpose Acquisition Company), to take the company public on Nasdaq. Once listed, Swvl needed to position itself among well-established U.S. public companies on one hand and overcome the notorious reputation MENA-based companies had for corporate governance on the other. To emerge successful in global financial markets, Swvl had to ensure that its marketplace design was lean enough to allow the company to grow profitably without compromising customer experience. Swvl also had to assess its expansion strategy, particularly in terms of how fast and how far it could launch in new markets without mishap. Moreover, it had to make sure the company had the right advisory and accountability governance structures that would effectively guide the company on growth, expansion, safe service delivery.