Chairperson and Managing Director of the Administrative Capital for Urban Development (ACUD) Khaled Abbas has signed a memorandum of understanding (MoU) with Zimbabwe’s New City Development Corporation in Mount Hampden.
The MoU aims to enhance bilateral cooperation with regard to planning, designing, building, and managing the new city in Mount Hampden, based on the successful experience of the New Administrative Capital (NAC) in Egypt.
The development in Mount Hampden, northeast of the capital Harare, is slated to be the site of the national parliament, headquarters of the central bank, the high and supreme courts, mineral auction centers, a stock exchange, a presidential palace and luxury villas.
Additionally, the two sides will cooperate in the development of the main infrastructure of the new city, including roads, water and sanitation networks, environmentally friendly energy facilities, waste management, and smart infrastructure.
Zimbabwean Minister of Local Government and Public Action July Moyo praised the relations between the two countries. He also praised the ability of the Egyptian state to construct the NAC in record time and in a distinguished manner, which prompted the Republic of Zimbabwe to request the support of Egyptian companies in building Mount Hampden.
Abbas met with the Regional Director of the African Export-Import Bank (Afreximbank) in the Harare, where they discussed some issues related to the bank’s financing of any projects that take place in the new city of Mount Hampden to provide the required funding sources if Egyptian companies are present to start work.
This visit followed the previous visit of the Vice President of Zimbabwe to the New Capital in Egypt in June 2023, during which he expressed his great admiration for the project, and asked for cooperation between the two countries in this sphere.