About the Aga Khan Fund for Economic Development
Solar panels have greatly reduced the carbon footprint of Kilaguni Serena Safari Lodge in Tsavo West National Park, Kenya’s first fully solar powered hotel.
AKDN / Lucas Cuervo Moura
Solar panels have greatly reduced the carbon footprint of Kilaguni Serena Safari Lodge in Tsavo West …
AKDN / Lucas Cuervo Moura
About the Aga Khan Fund for Economic Development
The Aga Khan Fund for Economic Development (AKFED) is an international development agency dedicated to promoting entrepreneurship and building economically sound enterprises in the developing world. We often work in parts of the world that lack sufficient foreign direct investment. We operate as a network of affiliates in Central and South Asia and Africa, with more than 70 separate project companies employing over 75,000 people.
For more than 75 years, AKFED has made investments and operated companies in Africa, and in South and Central Asia. AKFED is active in 16 countries in the developing world:
- Afghanistan;
- Burundi;
- Côte d’Ivoire;
- the Democratic Republic of the Congo;
- India;
- Kenya;
- the Kyrgyz Republic;
- Madagascar;
- Mauritius;
- Mozambique;
- Pakistan;
- Rwanda;
- South Africa;
- Tajikistan;
- Tanzania; and
- Uganda.
We seek to create profitable, sustainable enterprises through long-term investments that result in strong equity positions. This in turn allows us to take a hands-on approach by providing managerial and technical expertise. Profits we generate are reinvested in other economic development initiatives under the AKFED umbrella.
We often work in collaboration with local and international development partners to create and operate companies that provide goods and services essential to economic development. These range from banking to electric power, agricultural processing, hotels and telecommunications.
We also work with governments to help promote the creation of enabling legal and fiscal structures that encourage the growth of the private sector. At the invitation of several governments, we have helped critical industries to make the transition to market economies through the privatisation process. These industries include banking, power generation, tourism, manufacturing and the agricultural sector, in countries as varied as Uganda, Tajikistan, Pakistan and Afghanistan.
We aim to develop local human resources, including managerial, technical, marketing and financial skills. We provide essential seed capital to launch projects in those sectors and countries where attracting investment is difficult.
We take a long-term view in order to build viable, self-sustaining and profitable companies. We also generally participate in the management of companies in which we invest, with the aim of preparing companies for broader ownership by local interests.