Mudolo to be honoured for Egypt’s New Administrative Capital construction

The Egyptian Investment Corporation will this week honour Zambian-born South African investor and businessman Willah Mudolo at the opening of the second phase of Egypt’s New Administrative Capital, 70km from Cairo. Investors from the Arab belt and West Africa garnered $100 billion, with Mudolo raising more than $100bn through American and European investment to support the new capital’s solar subway and speed train infrastructure.

The “old Cairo” is the busiest city on the continent.

Mudolo is known as a business start-up specialist in emerging markets with specialisation in project development, mining, agriculture, media, energy and petroleum, real estate and education. ​

Head of the Central Agency for Organization and Administration (CAOA) Saleh El-Sheikh said the government was adopting professional plans to move to the New Capital and has developed a guide to implement its goals for the transfer of various ministries and government agencies.

President Abdel Fattah al-Sisi said the new region was “the birth of a new state and republic”.

Speaking on the sidelines of a conference at Cairo University, Sheikh said there were higher and executive committees managing the transfer to the new city.

The Egyptian government indicated that the first phase had been completed, covering an area of ​​about 40 000 acres (about 16 000 hectares). The first phase includes 10 residential neighbourhoods. Several giant projects in the New Capital have been completed, including the government district.

Sheikh said the financial and business district and the central business district, which includes 20 towers, including the iconic tower and the Sports City, have been completed.

Mudolo was in 2020 siphoned of hundreds of millions when charismatic televangelist Shepherd Bushiri roped him in to invest in a new city in Rustenburg, only for the charismatic leader to transfer the funds to his native country, Malawi, fleeing corruption and money-laundering charges.

It is believed that Bushiri and his wife, Mary, were smuggled out by Malawian President Lazarus Chakwera after a plot was hatched between the two governments to smuggle out the charismatic leader.

Several insiders in the government’s security cluster including diplomatic and military intelligence sources, police officers, and bureaucrats told “The Star’s” sister paper “The Sunday Independent” that Bushiri left in Chakwera’s jet.

Mudolo as well as former Nigerian president Jonathan Obasanjo and Ghanaian businessman Ibrahim Mahamba will be honoured at the opening on Friday.