Careem Captainahs to benefit from Prince Alwaleed support

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Careem Captainahs to benefit from Prince Alwaleed support

September 17, 2018 11:21 am

June 24th marked a historic day: The day women in Saudi were finally allowed to drive.

To celebrate this monumental event, Alwaleed Philanthropies (AP), which is chaired by Prince Alwaleed Bin Talal Bin Abdulaziz AlSaud, has committed 100 vehicles gratis to be delivered to Careem.

According to AP, their organization has delivered their first instalment of the vehicle package. The overall move is meant to support Saudi women drivers who decide to become Captainahs (Careem’s term for female drivers) for Careem.

READ: Gourmet rides: Careem growing an appetite for food delivery

AP distributed the cars to the Captainahs at the HQ of Aljazirah Vehicles Agencies in Riyadh.

“The project aims to develop and invest in women’s talents and to enable them to obtain suitable opportunities to contribute to the development of society and the economy, and to increase their participation in the labor force from 22% to 30%, as well as to contribute to reducing the financial burden on the Saudi family for the recruitment of drivers,” AP said in a press release on its site.

According to AP, more than 2,000 women have registered wishing to work on the leading platform, especially in Riyadh, Jeddah and Dammam. Careem aims to add 20,000 Captainahs to the platform by 2020.

“The registered Captainahs will be trained intensively on the platform for intensive training in a specialized training center for them,” the charity organization continued.

READ: Uber to buy Careem? Prepare for ride prices to rise

Careem on the rise

In June of 2017, Prince Alwaleed had acquired The Abraaj Group’s stake in Careem through his Kingdom Holding firm. The stake was worth $62 million, according to a statement by the company. The sum represented a 7.11% share.

This stake acquisition was part of a $500 million second financing round for the ride-hailing company, which continues to be locked in a rivalry with Uber.

In July, Bloomberg reported that Uber and Careem were having preliminary talks to merge their business, ahead of Uber’s planned IPO meant to take place next year.

READ: What has Careem done right that Uber hasn’t?

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Source: Press Release

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