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Uber to agree with private bank to finance purchase of new, used cars for drivers - Daily News Egypt

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Uber to agree with private bank to finance purchase of new, used cars for drivers

We plan to open a regional support centre in Cairo, says El-Khoury

Anthony El-Khoury, general manager at Uber Egypt, said that the company is about to seal a deal with a private bank to finance the purchase of new and used cars for Uber drivers.

El-Khoury told Daily News Egypt that the company’s database shows that 40% of the drivers have no jobs besides driving for Uber. This prompted the company to launch a new scheme to receive employment requests from young people. This scheme will provide them with training programmes and grant them cars, which they will pay for in instalments through their profits. The service would include both new and used cars.

He pointed out that minimum working hours will be set to ensure the repayment of instalments and secure adequate profit for the drivers. The drivers will also be banned from working with competing companies throughout the payment period. Moreover, the instalments will be directly deducted from the driver’s proceeds to ease measures for those looking to work with Uber.

El-Khoury added that Uber’s investment plans in the Egyptian market span across several strategies, including opening a regional support centre to offer technical assistance to the Middle East and North Africa, as well as expanding internally. He noted that the company obtained new 1,500 sqm headquarters, large enough for 150-180 employees.

Additionally, he said that Uber will also expand its driver training centre to include more governorates within the coming two years, next to offering its service in Cairo, Alexandria, Giza, El Gouna, and the North Coast.


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