Swvl Inc, a Dubai-based provider of transformative mass transit and tech-enabled shared mobility solutions, announced the publication of its first annual Environmental, Social and Governance (ESG) Report.
The report highlights Swvl’s continued commitment to empowering individuals to realise greater social and economic equity, operating with sustainable business practices that protect the planet, supporting the societies in which it operates, advancing diversity, equity and inclusion, and creating value for all stakeholders.
Mostafa Kandil, Swvl Founder and CEO, said, “As a young and rapidly growing company, we have made tremendous progress towards our goal of removing barriers to seamless mobility for the masses, while making a significant positive environmental impact.
“Swvl is a mission-driven company focused on leveraging our platform for the betterment of society, and we take the role that we play in the lives of all Swvl stakeholders extremely seriously. We are delivering a more sustainable future for the world through our differentiated mass transit solutions, in turn creating value for all stakeholders.”
Swvl’s ESG strategy, ‘Right to Mobility’ focuses on addressing safety, accessibility, societal and environmental challenges with differentiated mobility solutions:
Humanising the daily commute: In developing markets’ public transport systems, three in five women report experiencing sexual harassment. Rides across the public transport systems in these markets can be as much as ~23 minutes late, and the maximum walking distance to a bus stop is ~1.26km, with a worldwide average of 18.2 road-related fatalities per 100,000 inhabitants.
Swvl provides a safe and reliable daily commuting experience to its student customer base, which is 51% female, while achieving a 99.98% accident-free rate. The company reduced the average walking distance to bus stops in developing markets to ~0.64kms and also reduced the average lateness across the network in developing markets to ~5.3 min.
Enabling societies: The annual cost of traffic in the US is $88 billion, while the cost of Cairo’s congestion as a percentage of Egypt’s GDP is ~4%. Swvl has successfully addressed these challenges by reducing ~14.4m person-hour of congestion and generating income for ~17,000 Swvl micro-entrepreneurs while actively providing female drivers with equal economic access and opportunities as their male counterparts.
Caring for the planet: The transport sector is the second-highest contributor to CO2 emissions globally, with ~7.9bn pounds on a per capita basis. Swvl has saved ~245m pounds of CO2 emissions and introduced the first electric vehicles in Cairo, demonstrating its commitment to reducing the transport sector’s carbon footprint across the globe.
New initiatives: Swvl is focused on sourcing female captains across its geographies and providing them with equal economic access and opportunities as their male counterparts. With 51% of Swvl’s student customer base being female, it is actively scaling its proportion of female captains to ensure social justice for riders and financial inclusion for captains.
Youssef Salem, Swvl CFO, said: “Swvl is built on a core ESG mission: the right to sustainable mobility. This includes protecting the planet by increasing ride sharing options to reduce number of vehicles on the road, ensuring riders have access to safe and affordable transit regardless of income level, and advocating for captains by increasing their earnings and attracting female captains into what has been a predominantly male dominated industry.”
