The region of North Africa consists of countries like Morocco, Sudan, Egypt, Libya, Algeria, and Tunisia. In the past few years, this region has witnessed many disruptions in the ride-hailing industry. The biggest disruption perhaps was the Uber and Careem merger which we’ll discuss in detail later.
First, let’s get a glimpse of a few ride-hailing stats of the region.
- The total amount of revenue for the ride-hailing and taxi segment for the North African region amounts to a total of US$1,114m in the year 2020.
- This revenue is estimated to exhibit annual growth at a rate (CAGR 2020-2024) of 20.2%. This growth will result in a market volume of a mammoth US$2,326m by the year 2024.
- The user penetration is also set to hit the 8.3% mark in the year 2024 which is currently at 7.0% in the year 2020.
- Currently, the average revenue per user (APRU) is US$67.08.