Food and grocery delivery platform Talabat will begin operations in Iraq next year, the company said in a statement on Thursday.
The online platform, owned and operated by German food delivery company Delivery Hero, will start operating in Erbil, the Kurdistan region's capital and the most populated city in Northern Iraq, early next year.
Talabat plans to expand further into the other cities throughout the country.
“Iraq is a country with a definite love of food, which is why we cannot wait to enter the market,” Tomaso Rodriguez, Talabat’s chief executive, said.
“The Iraqi market has massive potential and Talabat can help unlock that potential to get the country back on its feet after many years of turmoil when it comes to technology and digitisation of SMEs in the restaurant community.”
Talabat will collaborate with Iraqi restaurants and create new employment opportunities for local talent across various verticals, the company said.
Founded in Kuwait in 2004, Talabat currently operates in eight markets in the Middle East and North Africa, including the UAE, Saudi Arabia, Oman, Bahrain, Qatar, Egypt and Jordan.
The company's network includes more than 13,000 restaurants and stores and nearly 24,000 branches. Some of its partners include global brands like Burger King, KFC, Pizza Hut, Papa John's, TGI Fridays and Subway.
Iraqi customers will be able to download the Talabat app on the Apple App Store and Google Play from December onwards, the company said.
Talabat has gradually been acquiring regional rivals to consolidate its operations and shore up its bottom line in a highly fragmented food delivery market.
Last year, it bought the Middle East operations of Zomato but has allowed it to retain its brand identity. However, it absorbed earlier acquisitions such as Kuwait's food delivery platform Carriage and Egypt's Otlob under its own brand.
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Racecard
5.25pm: Etihad Museum – Maiden (TB) Dh82,500 (Turf) 1,200m
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Avatar: Fire and Ash
Director: James Cameron
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Rating: 4.5/5
Tonight's Chat on The National
Tonight's Chat is a series of online conversations on The National. The series features a diverse range of celebrities, politicians and business leaders from around the Arab world.
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Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
AndhaDhun
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Producer: Matchbox Pictures, Viacom18
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Third Test
Day 3, stumps
India 443-7 (d) & 54-5 (27 ov)
Australia 151
India lead by 346 runs with 5 wickets remaining