Making the most of limited local resources: in coastal Mozambique AKAM provides funding for small seaweed farms.Cabo Delgado suffers from a familiar paradox: a relatively rich resource base, but very low living standards. The civil war and more recent floods have contributed to this delay in development, but peace and stability in the region have already raised prospects considerably. The province, and the country, have 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.
AKDN has also made a number of investments to assist Mozambique’s economy gain momentum. The Aga Khan Fund for Economic Development (AKFED) has invested in the tourism infrastructure, first through purchase of the Polana hotel in Maputo. AKFED has made significant investments in the rehabilitation of the physical plant as well as the refurbishment of the historic hotel’s guest rooms and conference facilities. For more information, please see the Serena Hotels website.
AKDN has also made investments in the tourism infrastructure, first through purchase of the Polana hotel in Maputo. The Aga Khan fund for Economic Development has made significant investments in the refurbishment of the historic hotel. For more information, please see the press release.
Another AKFED economic development project is the Moztex textile garment factory, which produces t-shirts, polo shirts, shirts, trousers, etc.. It employs 410 employees. Its production is exported to South Africa.
AKFED also holds 26.56% in the SEACOM telecommunications consortium, which connects Southern and Northeast Africa with Southern Asia and Europe through the placement of 17,000 kilometres of undersea fibre optic cables which pass throughout various terrestrial points, namely Mozambique, Tanzania, Kenya, Djibouti and Egypt. In Mozambique, SEACOM is present in the national telecommunications market.
© 2007 The Aga Khan Development Network. This is the only authorised Website of the Aga Khan Development Network.