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  • From Left to Right : Ms. Haydee Celaya of the International Finance Corporation (IFC), Prince Amyn Aga Khan of the Aga Khan Fund for Economic Development (AKFED), Mr. Winfried Nau of DEG-DeutscheInvestitions-und Entwicklungsgesellschaft mbH and Mr. Lutaf Kassam of Industrial Promotion Services (IPS) in Kenya, Uganda and Tanzania at the ceremony in Nairobi to announce a capital increase of US$32.4 million in IPS for investments in East Africa.
    AKDN
IPS to get US$32 million in new equity for East Africa
Nairobi, Kenya, 17 November 2003 - Industrial Promotion Services (IPS) today announced a capital increase of USD 32.4 million (KSh 2.5 billion) for investments in East Africa to be funded principally by three leading institutional shareholders.