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UAE’s e& Takes Majority Stake in ‘Careem's Super App’

The Careem Super App includes renting small vehicles, digital payment, and a range of fintech services and other services. (Asharq Al-Awsat)
The Careem Super App includes renting small vehicles, digital payment, and a range of fintech services and other services. (Asharq Al-Awsat)
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UAE’s e& Takes Majority Stake in ‘Careem's Super App’

The Careem Super App includes renting small vehicles, digital payment, and a range of fintech services and other services. (Asharq Al-Awsat)
The Careem Super App includes renting small vehicles, digital payment, and a range of fintech services and other services. (Asharq Al-Awsat)

The UAE telecom-tech giant e& is picking up a majority stake in Careem Super App through a binding agreement with Uber Technologies.

Careem’s ride-hailing business will remain fully owned by Uber Technologies and continue to be available with all other Careem services on the existing app for customers.

e& is investing $400 million to be majority shareholder in Careem's Super App alongside Uber and all of Careem's co-founders.

The application offers around 12 services.

The Careem Super App offers food and grocery delivery, micro-mobility, a digital wallet and assorted fintech services, and other services such as home cleaning, car rental, and laundry.

Careem is operational in 10 countries across the Middle East, North Africa, and South Asia.

With the new investment, Careem plans to accelerate the realization of its ambitious vision to create the first 'everything app''. This will include expanding on the core food, grocery, and fintech services and the Careem Plus subscription program in the region while adding even more partner services to the app.

"Super apps have catalyzed the economic, social, and cultural growth of emerging markets today," said Hatem Dowidar, Group CEO of e&. "The popularity has come from the need to provide a unique and seamless customer experience."

"The mobile-first population has given rise to an ecosystem that has encouraged the use and also expanded the scope for super-apps with user expectations turned towards performing their daily activities on digital platforms."

"The Careem Super App, is a digital native that has built a rapidly growing payments, food, and grocery delivery network, and a platform for other digital businesses to scale from."

In a statement, Dara Khosrowshahi, CEO of Uber, said: "Careem helped revolutionize mobility across the greater Middle East while building an incredible brand. I am thrilled to partner with Careem, and welcome e&, as we grow the Careem super-app to deliver more services to millions of people in this fast-moving part of the world."

"All of us at Uber are excited about the impact the Careem platform will have on this region over the next decade and beyond."

Completion of the transaction remains subject to regulatory approvals, customary closing conditions, and administrative procedures.

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FAO Aims for Key Outcomes at COP16 in Saudi Arabia

Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
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FAO Aims for Key Outcomes at COP16 in Saudi Arabia

Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)

Dr. Abdul Hakim Elwaer, Assistant Director-General of the Food and Agriculture Organization (FAO), stated that the organization will take an active role at COP16, the UN conference on combating desertification, scheduled to take place in Saudi Arabia in early December.

In remarks to Asharq Al-Awsat, he expressed confidence that the conference—the first of its kind in the Middle East—would produce significant outcomes.

Elwaer’s comments came during a roundtable organized by FAO’s regional office in Cairo, attended by a select group of media representatives. The session focused on FAO’s participation in the upcoming conference and the importance of the Rio Trio —the integrated framework of the three major UN conventions addressing climate change, biodiversity conservation, and desertification.

Fida Haddad, FAO’s Program Officer for Land Rehabilitation and Climate Change, highlighted the interconnectedness of the three conventions and noted that COP16 would place a strong emphasis on land and water rehabilitation and their sustainable management.

Haddad pointed out that approximately 90% of the Middle East is affected by arid conditions. Despite this, local communities and Arab governments have made notable progress in addressing desertification and drought. She also announced that, for the first time, FAO has successfully placed food systems on the COP16 agenda, enabling discussions on how land rehabilitation can enhance food supply chains and systems.

Elwaer underscored FAO’s central role in achieving the second Sustainable Development Goal (SDG): eradicating hunger. He emphasized that FAO actively engages in the UN conventions on climate change, biodiversity, and desertification, which collectively contribute to this mission.

FAO’s focus, according to Elwaer, is on transforming food and agricultural systems to become more inclusive, efficient, and sustainable, aiming for better production, nutrition, and livelihoods. He highlighted the organization’s success in integrating these priorities into the agendas of the three conventions and collaborating with host countries on joint initiatives.

He further noted that Saudi Arabia’s hosting of COP16 is particularly significant for the region, which faces pressing challenges such as water scarcity, desertification, and food insecurity. The conference presents an opportunity for Middle Eastern nations to highlight these issues, explore solutions, and ensure their inclusion in global environmental discussions, not only at this event but in future COP sessions, he underlined.

Elwaer emphasized the growing global attention on desertification, as it is now impacting regions previously unaffected, such as southern Europe and parts of Latin America. These areas are witnessing alarming declines in arable land and forests, prompting them to seek lessons from the Arab world, which has developed resilience strategies to combat desertification over centuries.

FAO will have a strong presence at COP16, with two dedicated pavilions—one in the Blue Zone for official delegations and another in the Green Zone to engage civil society and conference participants, he said.

He added that in collaboration with Saudi Arabia and the UN, FAO will lead coordination on Food Day and Governance Day, scheduled for December 5 and 6, respectively. The organization will also participate in other specialized sessions throughout the conference.