The airline has technical, commercial and operational synergies with Air Mali and Air Burkina, two other airlines associated with the AKFED
group which are also using AIRPACK.
Calculated risk is an inevitable underlying element of the AKFED
philosophy, since its motivation is to invest in poor and frequently unstable areas that present higher risks than elsewhere," said Janmohamed.
IPS is the infrastructure and industrial development arm of AKFED
In Burundi, AKFED
owns 51% of Smart Mobile, which is now the country's second biggest mobile operator.
and the IPS group bring over 30 years of experience in the printing and packaging industry to the ailing company.
The Bank is 51% owned by the Aga Khan Fund for Economic Development ( AKFED
IPS's equity, which comprises approximately 35% of the total sponsor equity commitment/ownership in the project, is being funded by AKFED
, Jubilee Investment Company Limited and by IPS itself.
is an international development organization and member of the Aga-Khan Development Network (AKDN) that aims at promoting entrepreneurship and building economically sound enterprises in the developing world.
Iain Cheyne, the AKFED
director, said the bidding process was transparent and hoped this would establish a good working relationship between the fund and the Pakistan government.
division owns the largest investment stake in the Seacom submarine cable.
Diamond Trust Bank Kenya Limited, also an AKFED
associate, is the other major investor of DTB Tanzania.
Ivory Coast government will hold a majority 51% stake in the new airline, whereas AF will hold 20% and AKFED
holding company will hold 15%.