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.
Another AKFED economic development project is the Moztex textile garment factory, which produces t-shirts, polo shirts, shirts, trousers, etc. Its activities started with a Training School. Nearly 1,700 people have been trained by the factory training centre since 2008. Today Moztex employs over 500 employees, of which 90% are women who which were previously trained by the factory. 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.