The entrance of the newly refurbished Polana Serena Hotel.
AKDN / Filipe Branquinho
The entrance of the newly refurbished Polana Serena Hotel.
AKDN / Filipe Branquinho
Acquired by IPS, the clothing factory Moztex in Mozambique's capital had several goals; to provide employment, particularly to women, to train and develop local skills and to contribute to the country’s economic development.
AKDN / Zahur Ramji
Acquired by IPS, the clothing factory Moztex in Mozambique's capital had several goals; to provide …
AKDN / Zahur Ramji
On Ibo Island, Mozambique, AKF helps to increase rural incomes by promoting enterprise development. It works with producers and technical service providers to increase product quality and facilitates linkages to markets.
AKDN / Lucas Cuervo Moura
On Ibo Island, Mozambique, AKF helps to increase rural incomes by promoting enterprise development. It works …
AKDN / Lucas Cuervo Moura
This page is also available inMozambique | Economic Development
Mozambique suffers from a familiar paradox: a relatively rich resource base, but very low living standards. The country has considerable potential for development, particularly in tourism, agricultural production and sustainable use of natural resources. These assets suggest that the rich resource base-low living standards paradox can be addressed in the coming years. Very sadly, since late 2017, Mozambique has had a stage of attacks by radical insurgents in the northern province of Cabo Delgado. As a consequence, 2,500 people have lost their lives and over 300,400 are internally displaced.
750
Moztex S.A. has over 750 employees
AKDN / Jon Ivins
Industrial and Infrastructure Development
AKDN has made several investments to help Mozambique’s economy gain momentum in a sustainable and locally-sensitive way. The Aga Khan Fund for Economic Development (AKFED) has invested in tourism infrastructure through a concession in the Polana Serena Hotel, Maputo, obtained in 2002. Following several renovations and construction, the hotel has 154 rooms and eight villas.
Since 2002, AKFED has invested in a restoration programme, using the best local materials and artisans to incorporate service improvements, product upgrades and enhancements to the five-star hotel, its facilities, guest rooms and conference venues.
Textile Factory
AKFED’s Industrial Promotion Services (IPS) group has invested in Moztex S.A, which manufactures ready-to-wear garments. Nearly 2,000 people have gone through the in-house training programmes since 2008. Today, the company employs over 750 people, of whom the majority are women. In 2020 the factory exported approximately 3.1 million garments.
Infrastructure
IPS has invested in SEACOM, which launched Africa’s first broadband subsea cable system along the eastern and southern coastlines in 2009. Connecting South Africa, Mozambique, Tanzania, and Kenya to the Middle East and Europe, SEACOM’s cable system also connects inland countries such as Uganda and Rwanda to supply fast Internet connectivity.
SEACOM is now a major pan-African service provider, offering a full suite of resilient and scalable data services that allow Africa’s growing ICT community to develop and evolve.
The SEACOM business division provides the African enterprise market with best-in-class connectivity and cloud services. For more information, visit http://seacom.mu/
Financial Inclusion
Residents of Cabo Delgado have very limited opportunities to save and borrow and therefore find it difficult to protect or accumulate assets. To address this gap, AKF has mobilised community-based savings groups (CBSGs) in coastal regions, serving over 8,000 members (more than half women) between 2016 and 2019.
CBSG members reported that as a result of participating in the savings group, they improved their financial literacy and saving practices, had a place to safely save money and had access to a loan service that matched their financial capabilities.