AKFEDAga Khan Fund for Economic Development
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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.
Together with AKFED, NJI also acquired majority control of CU Life Assurance Company of Pakistan Ltd.
IPS(T) and AKFED will re-launch the company as TLL Printing and Packaging Ltd.
Co-investors in IPS's interest in Bujagali are AKFED and Jubilee Investment Company Ltd.
AKFED has been a significant shareholder in Tcell since inception, and I am convinced that they will be able to further develop the company, says Johan Dennelind, Telia Companys President and CEO.
On December 29, 2003 Pakistan's Privatization Commission proclaimed that Government of Pakistan had officially granted AKFED (Aga Khan Fund for Economic Development) rights to 51 per cent of the shareholding in HBL, against an investment of Rs22.
AKFED and the Government will keep their interests in the project.
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.
Funding objective : The funding will allow AKFED to increase investments in emerging markets.