Mohamed Green — Commercial Executive Director of Transic Smart Transport — said that the company is negotiating with a government-owned company to provide its technological solutions in managing its transportation fleet.
This would foster economic efficiency and allow the government-owned company to manage the transportation fleet.
Green told Daily News Egypt on the side-lines of a round table held by the company with a number of journalists that the company also is negotiating to obtain financing with an investment fund to finance its expansion plans, and the company appointed entrepreneur Mohamed Nagati as a financial adviser for the financing round.
Transic aims to expand its services in Saudi Arabia, Jordan, and Pakistan as soon as the financing round closes.
Furthermore, he pointed out that the company will break-even before the end of this year, noting that Transic has adopted a policy since its inception that is based on compressing expenses and maximising revenues in order to achieve profitability instead of relying on spending money in marketing to achieve accelerated rates of attractive growth.
For his part, CEO of Transic Ahmed Al-Sakka said that the company is working to provide smart transportation services in a way that’s different from how competitors do it, which supports achieving profitability, as the company works to provide transportation services for corporate employees and school students in Greater Cairo, Alexandria, Fayoum, Beni Suef, Minya, and Qena.
The company also intends to provide transportation services for university students Cairo and Ain Shams Universities this year by launching itineraries that meet the needs of the students.
He added that the company began providing transportation services for individuals to closed urban communities after contracting with the Talaat Mustafa Group to transport residents of Madinaty and Al-Rehab.
Al-Sakka noted that Transic was established in January 2022 and that the company currently has contracts with 16 companies in the local market, including Al-Abd for Sweets, Eva Pharma for Pharmaceuticals, and Redcon for Construction and Development.
During the eight months of its operation, the company managed to run 200,000 trips through its electronic platform.
Transic provides its clients with modern models of buses and sedans in various categories in terms of the number of passengers and features.
According to the company’s CEO, it is currently working on studying the operation of electric cars in the Egyptian market so that they can phase them into operations gradually by the end of this year until 2030 with the aim of eventually having a fleet of electric buses, and the company is currently negotiating with one of the importers of electric buses to supply the company with buses for the experimental phase.