Arab Finance: Modon Misr and Mwasalat Misr signed an investment and shareholders’ agreement to establish Mwasalat Modon Misr, a company to operate smart and sustainable transportation systems across Egypt’s new urban cities, as per a statement.
Modon Misr is affiliated with the New Urban Communities Authority (NUCA) and the Future of Egypt Authority for Sustainable Development, while the National Bank of Egypt (NBE) holds a stake in Mwasalat Misr.
The new company will operate and manage smart urban transportation services using digital solutions and modern operating technologies. The partnership builds on coordination between the housing ministry and the Future of Egypt Authority to develop transportation services that can keep pace with the country’s urban expansion.
Under the agreement, Mwasalat Modon Misr will deploy a fleet of 200 new vehicles across the targeted cities. The project will also establish an integrated fleet management system comprising central and subsidiary control rooms, alongside electronic equipment for vehicles, stations, and garages.
An electronic payment system will be developed in cooperation with NBE as part of the company’s plans to provide safe and sustainable urban transportation services.
The agreement also covers comprehensive insurance for vehicles and passengers, as well as specialized programs to improve the skills of drivers and other employees. Technical and administrative personnel will receive training in line with international standards to support operating efficiency and service continuity.
The operating model is designed for gradual expansion into additional new urban cities. It will also integrate with infrastructure projects and national transportation networks, supporting the objectives of Egypt Vision 2030.
The system will use smart management and operating technologies to increase service efficiency, improve the passenger experience, and strengthen integration among different modes of transportation. El-Menshawy also stressed the importance of expanding the service progressively in line with Egypt’s urban development plans and the shift toward smart, sustainable cities.
Mwasalat Modon Misr will operate as a public-private partnership supported by specialized transportation experience and an integrated institutional structure. The model is intended to be replicated across additional cities, improving service efficiency, increasing asset utilization, and generating sustainable economic and operating returns.
