The Egyptian Competition Authority (ECA) is looking to keep an eye on the ride-hailing industry in Egypt following the shutdown of the Egyptian ride-hailing app Ousta, head of ECA said.
Ousta’s collapse has prompted the state-run body to ask the country’s pioneer ride-hailing apps Uber and Careem for further details on the possible merger, Enterprise reported, citing Emir Nabil.
“There is a trend in the ride-hailing apps sector away from competition, as evidenced by the collapse of Ousta,” said Nabil at a press conference on Monday.
The possible $2.5 billion merger between the two rivals could harm millions of users and drivers working for these companies, he added.
He further noted that both Careem and Ousta had filed complaints against Uber, claiming that the US-based company was seeking a price war.