• Home
  • Radio
  • TV
  • Advertisement
  • Disclaimer
  • Public Notice
    • Opinion
  • New Africa Business News
  • Contact
  • Log In
facebook
    • News
    • Business
    • Video
    • Entertainment
    • Sport
    • Jobs
    • Government
    • Immigrants
    • Investment
    • Gallery
      • Animal
      • Africa Map
    • NGO
    BREAKING NEWS
    $1.1 Billion Senegal’s postponed Ndayane Deep Waterport to be Constructed in Coalition with DP World
    A twin Currency Trade Finance Line of Credit of $50 Million and €50 Million has been validated by the Board of Directors of the African Development Bank Group and the ECOWAS Bank for Investment and Development
    $100 Billion in Investment is needle for the Modernization and Harmonization of Regulatory Framework to boost Africa’s established Broadband Coverage by 2030
    Nigeria Launches National Domestic Payments Card Program
    In Guinea-Bissau, ECOWAS Parliament held a 3 Day Seminar on the Adoption of a Single Currency for Member African States
    $30 Billion has been pledged by the African Development Bank and Development Partners to Finance Food and Farming in the Next Five Years
    $7.9 Billion in Exports glid in 2021 from the East African Community (EAC) Bloc to Africa amidst the Novel Corona Virus (COVID -19) Consequence
    President William Ruto of Kenya has Urged fellow African Rulers to address on Agribusiness beyond Production to Value Addition and Manufacturing
    Africa’s Economic Growth to Outpace Global Forecast in 2023-2024, AfDB Report
    Growers in Uganda to succeed from Nigeria’s AFEX’s Tech-Enable Products having expanding its Products Exchange Business in Nigeria’s AFEX from Kenya

    Zimbabwe’s Cyber City Project featured to be the New capital City

    Posted On 13 Sep 2022
    By : New Africa Business News, Staff Correspondent
    Comment: 0

    By Abdul Rahman Bangura–

    Photo Credit: Word Travels

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone – President of Zimbabwe – Emmerson Mnangagwa asserted “This Cyber City is to be a key feature that will bring added value to our new city here. The development this year for the smart city on 15,500 acres will be the smartest city in our region,”

    The futuristic Cyber City is seen to be firmly fixed in what authorities view as the new capital city or the New Harare in the Mount Hampden area, 26 kilometers Northwest of Harare.

    Roughly calculated at $500 million, Zimbabwe Cyber City is being developed by United Arab Emirates-based kilometers conglomerate Mulk International.

    “We’ve been trying to bring the Dubai standard of living to this particular development. The project will have high-end villas, we call them Zim Hills, surrounding water bodies. We will have a very tall tower with the shopping center,” says Shaji ul Mulk, Mulk International Chairman.

    Other government offices will also be built in Mount Hampden to make the planned “New Harare” the seat of power, according to government officials.

    The futuristic Cyber City is set to give the planned new capital a modern commercial face, says authorities and investors. The project covering 2.5 million square meters of land, will include 250 townhouses, more than 80 luxury villas, several locks, high-tech office facilities, a 15-story co15-story tower, as well as landscaped gardens – all within a gated community.

    “The investment by the UAE (United Arab Emirates) investor in the Smart City Project is quite instrumental from the economic development point of view,” told Batanai Matsika, Head of Research, Morgan & Co.

    “So of course we except business benefit, local business to benefit out of that employment creation and the development of basic infrastructure. I think what we are seeing is a huge infrastructure gap in Zimbabwe and we think that those kinds of investments would catapult us in terms of reaching our vision 2030 objectives to be a middle income nation.”

    Zimbabwe is seeking to attract more foreign direct investment to strengthen its economy following the effect of the coronavirus-induced slowdown, the general investor flight following decades of western sanctions, political upheaval, policy inconsistencies and unrelenting economic problems.

    Foreign Direct Investment (FDI) inflows declined to $194 million in 2020, from $745 million in 2018, before the onset of COVID-19, according to data from the UN Conference on Trade and Development.

    Once complete, the new city is set to provide opportunities for shoppers and businesses, away from Harare’s crowded CBD.

     

    For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent

    About the Author
    New Africa Business News Staff Correspondent
    • google-share
    Previous Story

    Aliko Dangote’s $19 Billion Integrated Petrochemical Oil Refinery Complex is rescheduled to start Operations in Mid 2023

    Next Story

    African Development Bank (AfDB) Greeted with New Executive Directors

    Leave a Reply Cancel reply

    *
    *

    Members Area

    • Members Log In

    RECENT

    POPULAR

    COMMENTS

    $1.1 Billion Senegal's postponed Ndayane Deep Waterport to be Constructed in Coalition with DP World

    Posted On 07 Feb 2023

    A twin Currency Trade Finance Line of Credit of $50 Million and €50 Million has been validated by the Board of Directors of the African Development Bank Group and the ECOWAS Bank for Investment and Development

    Posted On 06 Feb 2023

    $100 Billion in Investment is needle for the Modernization and Harmonization of Regulatory Framework to boost Africa's established Broadband Coverage by 2030

    Posted On 03 Feb 2023

    New Africa Business News 2022-2023 Person of The Year Goes to Professor Patrick Loch Otieno Lumumba (PLO Lumumba)

    Posted On 05 Jan 2023

    New Africa Business News, Person of the Year 2021-2022, Goes to African Women

    Posted On 29 Jan 2022

    New Africa Business News Award Medalist of Excellence as Africa's President of the Year 2020-2021 meets the Heads of his Ancestors on March 17th, 2021 Samia Suluhu Hassan divulged

    Posted On 20 Mar 2021

    Thanks for reading, Africa’s fastest...

    Posted On 21 Jan 2023

    Thanks for reading, Africa’s fastest...

    Posted On 21 Jan 2023

    Thanks for reading, Africa’s fastest...

    Posted On 21 Jan 2023

    Facebook

    Latest Posts

    $1.1 Billion Senegal's postponed Ndayane Deep Waterport to be Constructed in Coalition with DP World

    A twin Currency Trade Finance Line of Credit of $50 Million and €50 Million has been validated by the Board of Directors of the African Development Bank Group and the ECOWAS Bank for Investment and Development

    $100 Billion in Investment is needle for the Modernization and Harmonization of Regulatory Framework to boost Africa's established Broadband Coverage by 2030

    Recent Posts

    • $1.1 Billion Senegal’s postponed Ndayane Deep Waterport to be Constructed in Coalition with DP World
    • A twin Currency Trade Finance Line of Credit of $50 Million and €50 Million has been validated by the Board of Directors of the African Development Bank Group and the ECOWAS Bank for Investment and Development
    • $100 Billion in Investment is needle for the Modernization and Harmonization of Regulatory Framework to boost Africa’s established Broadband Coverage by 2030
    • Nigeria Launches National Domestic Payments Card Program
    • In Guinea-Bissau, ECOWAS Parliament held a 3 Day Seminar on the Adoption of a Single Currency for Member African States

    Categories

    • Business
    • Education
    • Entertainment
    • Featured
    • Government
    • Immigrants
    • Investment
    • News
    • NGO
    • Obituary
    • Opinion
    • Public Notice
    • Sport
    • Video

    Tag Cloud

    african economy business africa

    Contact Form

    1. Name *
      * Please enter your name
    2. Email *
      * Please enter a valid email address
    3. Message *
      * Please enter message
    Copyright 2019 New Africa Business News, Inc. A Global International Company, Inc. All Rights Reserved.