Cape Maclear Smart Economic Zone – Malawi

The Cape Maclear Initiative is a USD 3.5 billion initiative to be developed within a tailored made special economic zone featuring the following two key components: (1) Cape Maclear Resort City, a USD 2 billion development cluster featuring a touristic resort destination and an exclusive 50-year concession for regional finance, business, and trading free zone, to be developed over three phases and (2) Cape Maclear Airport City, a USD 1.5 billion development featuring Cape Maclear International Airport and Cape Maclear Logistics Park. Morningside is the lead partner of one of its key development management affiliates, AE7 Development Management Africa ltd. (ADMA) which has sourced the opportunity and developed the project brief, the high-level business plan in addition to preparing a strategic vision document that became the basis of negotiations with the Government of Malawi. To secure a special economic zone status, various concessions for airport, logistics park, and a regional business hub free benefiting from a unique package of investment protection and fiscal incentives. ADMA has managed the masterplan design concept developed by global design firm AE7. The ADMA consortium also includes Ernie Els Group, and other leading regional and global providers. Current focus is on securing funding for the first phase of the Cape Maclear Initiative from local, regional and global investors. 

  • Role of Morningside. Morningside as the lead partner of its development management affiliate, AE7 Development Management Africa ltd. (ADMA) has sourced the opportunity and developed the project brief, the high-level business plan in addition to preparing a strategic vision document that became the basis of negotiations with the Government of Malawi.  ADMA has managed the masterplan design concept developed by global design firm AE7. The ADMA consortium also includes Ernie Els Group, and other well-known regional and global providers.
  • Project status: The USD 360 million Phase One is EIA approved while the Government of Malawi has formally accepted to grant the local sponsors of the Cape Maclear Initiative the right to set up a regional business hub, a touristic destination and an airport, a logistics and manufacturing park within a dedicated special economic zone. The Phase One is currently under discussions with an interested investor.