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Economic development
The Network’s investment in sub-Saharan Africa’s private sector dates as far back as the 1930s and 1940s when financial institutions were established to meet the insurance, credit and housing needs of the Ismaili community in East Africa. Thereafter, the scope was extended not only to other areas such as industry and tourism, but also to the wider population. Today, the Aga Khan Fund for Economic Development (AKFED) is active in financial services, tourism and promoting local industries.