PM witnesses signing of agreement to establish 'Mwasalat Modon Misr' company

CAIRO – 5 August 2026: Prime Minister Dr. Mostafa Madbouly witnessed on Wednesday the signing ceremony of an investment and shareholders agreement to launch "Mwasalat Modon Misr," a new venture dedicated to managing and operating smart, sustainable public transportation across Egypt's new urban communities.

The agreement was signed between Madinat Misr for Asset and Utilities Management—a joint entity formed by the New Urban Communities Authority (NUCA) and the Future of Egypt Authority for Sustainable Development—and public transit operator Mwasalat Misr, in which the National Bank of Egypt (NBE) holds a stake.

The signing ceremony was attended by Eng. Randa El-Menshawy, Minister of Housing, Utilities, and Urban Communities; Dr. Bahaa El-Ghannam, Executive Director of the Future of Egypt Authority for Sustainable Development; Dr. Walid Abbas, Deputy Minister of Housing for Urban Communities; and Mohamed El-Etreby, CEO of the National Bank of Egypt.

The agreement was officially signed by Eng. Mohamed Mahmoud Abu Taleb, CEO of Madinat Misr for Asset and Utilities Management, and Hisham Ahmed Taha, CEO and Managing Director of Mwasalat Misr.

Under the agreement, Mwasalat Modon Misr will deploy a modern fleet of 200 new vehicles equipped with digital operational systems. The project features an integrated fleet management infrastructure—including central and branch operations control rooms, smart electronic onboard equipment, tech-enabled garages and stations, and an integrated cashless payment platform developed in partnership with NBE.

Additionally, the project includes full insurance coverage for passengers and vehicles, as well as specialized training programs to upskill administrative staff, technical crews, and drivers in line with international standards.

This partnership forms part of ongoing coordination between the Ministry of Housing and the Future of Egypt Authority. Designed for gradual expansion into additional new urban centers, the initiative directly supports Egypt's Vision 2030 strategy by modernizing public transit, integrating national infrastructure projects, and raising the quality of life for citizens.