DOCSLIB.ORG

Aga Khan Fund for Economic Development

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Aga Khan Fund for Economic Development Aga Khan Fund for Economic Development AN AGENCY OF THE AGA KHAN DEVELOPMENT NETWORK THE IMAMAT AGA KHAN DEVELOPMENT NETWORK ECONOMIC DEVELOPMENT SOCIAL DEVELOPMENT CULTURE AGA KHAN FUND FOR AGA KHAN AGENCY AGA KHAN AGA KHAN UNIVERSITY OF AGA KHAN TRUST ECONOMIC DEVELOPMENT FOR MICROFINANCE FOUNDATION UNIVERSITY CENTRAL ASIA FOR CULTURE TOURISM PROMOTION INDUSTRIAL PROMOTION AGA KHAN EDUCATION SERVICES AGA KHAN AWARD HISTORIC CITIES SERVICES SERVICES FOR ARCHITECTURE SUPPORT PROGRAMME AGA KHAN HEALTH SERVICES FINANCIAL AVIATION MEDIA AGA KHAN PLANNING AND EDUCATION AND SERVICES SERVICES SERVICES BUILDING SERVICES CULTURE PROGRAMME The Aga Khan Development Network (AKDN) is a group of private, international, non-denominational agencies working to improve living conditions and opportunities for people of all origins and faiths in specific regions of the developing world.The Network’s agencies have individual mandates that range from health and education to architecture, rural development, culture and the promotion of private-sector enterprise. They collaborate in working toward a common goal - to build institutions and programmes that improve the quality of life for populations in need while helping people respond to social, economic and cultural change. For more information and for the most recent developments, visit the Network’s website at: www.akdn.org. Aga Khan Fund for Economic Development A US$ 27-million investment by AKFED and other agencies will boost the supply of affordable hydroelectric energy in eastern Tajikistan, especially during the critical winter months. It provides an alternative to the burning of wood, which has led to wide-scale deforestation. Contents 04 AKFED’s Approach to Development 08 Working in Concert with the Aga Khan Development Network 10 Financial Services – Origins – Banking – Insurance – Property Development 14 Tourism Development – Origins – Culture – Environment – Human Resources 18 Industry and Infrastructure – Origins – Food and Agro-Processing – Printing and Packaging and other Manufacturing – Infrastructure – Energy – Telecommunications 22 Media Services – Origins – Newspapers and Publishing – Radio and Television 23 Aviation Services 24 Activities by Country 28 Partners 3 AKFED’s Approach to Development The Aga Khan Fund for Economic allows AKFED to take a “hands-on” approach Development (AKFED) is an international through the provision of managerial and development agency dedicated to promoting technical expertise.AKFED also works with private initiative and building economically governments to help promote the creation of sound enterprises in the developing world. For enabling legal and fiscal structures that more than 50 years, it has made investments encourage the growth of the private sector. and operated companies in the developing AKFED makes bold but calculated investments nations of Africa, South Asia and Central Asia. in situations that are fragile and complex, often AKFED often works in collaboration with assisting in rehabilitation and confidence local and international development partners building in economies that have suffered from to create and operate companies that provide civil conflict or war. goods and services essential to economic At the invitation of several governments, development.These range from banking to AKFED has helped critical industries to make electric power, agricultural processing, hotels, the transition to market economies through airlines and telecommunications. the privatisation process. These include AKFED is focused on building enterprises industries such as banking, power generation, in parts of the world that lack sufficient tourism, manufacturing and the agricultural foreign direct investment. Profits generated sector, in countries as varied as Uganda, by the Fund are reinvested in other Tajikistan, Pakistan and Afghanistan. economic development initiatives under In Kabul,AKFED’s Tourism Promotion the AKFED umbrella. Services Ltd. rebuilt a hotel severely damaged AKFED’s economic development activities are by war. It now is the five-star Kabul Serena intended to be complementary to the social Hotel, part of the AKFED-controlled Serena and cultural objectives and programmes of the chain, a vitally-needed facility for hosting Aga Khan Development Network (AKDN). business, government and other visitors from This ethical framework guides AKFED’s around the world. In Burkina Faso, investment decisions and its operations. AKFED holds a majority position in the AKFED seeks to create profitable, sustainable former government-owned Air Burkina and enterprises through long-term investments that is modernising its fleet and expanding result in strong equity positions.This in turn its services. Banking: Habib Bank, the second largest Agricultural Services: The Frigoken Ltd. plant bank in Pakistan. in Nairobi processes green beans grown by 25,000 Kenya bean farmers for export to European markets. 4 AKFED is an international development agency that makes long-term investments in developing countries with the aim of promoting entrepreneurial activity and building profitable enterprises. AKFED invests in Although many of AKFED’s financial services and manages companies in five companies were created more than 50 years ago broad sectors: industry and to serve the needs of the Shia Ismaili Muslim infrastructure, tourism development, financial services, community, the scope of these institutions has aviation and media. expanded considerably to serve the general population of the communities where Investments in industry and infrastructure are managed they operate. through locally incorporated Since that time, new sectors of activity have Industrial Promotion Services companies that provide venture been launched in the developing world in the capital, management services and areas of industry, tourism development, technical support. Companies in infrastructure, media and aviation.These this sector include food and activities were grouped under a single umbrella agro-processing, printing and packaging, specialised textiles, in 1984 when AKFED was formed, allowing all telecommunications and entities to be guided by a common development power generation. ethic and to benefit from the synergies of a Tourism Promotion Services strategic management infrastructure. companies build and manage hotels and lodges that contribute AKFED operates as a network of affiliates to economic growth in an with more than 90 separate project companies environmentally and culturally employing more than 30,000 people, with sensitive manner. annual revenues in excess of US$ 1.5 billion. Financial services include banks, AKFED is active in 16 countries in the insurance companies and property developing world:Afghanistan, Bangladesh, management companies. Burkina Faso, the Democratic Republic of the Media investments include the Congo, India, Ivory Coast, Kenya, Kyrgyz publishing of newspapers as well Republic, Mali, Mozambique, Pakistan, Senegal, as the operation of radio and television stations. Syria,Tajikistan,Tanzania and Uganda.There are also affiliates in Canada that provide resources Aviation includes commercial airline operations and support and technical support to AKFED’s activities in services. the developing world. Tourism: Serena Hotel in Quetta, Pakistan, Aviation: Celestair, the regional airline, Media: A newscast from Kenya’s provides tourism and business facilities in connects a growing number of underserved NTV, part of the regional Nation an underserved regional centre. destinations in West Africa. Media Group. 5 AKFED’s activities include 90 separate project companies employing more than 30,000 people with annual revenues in excess of US$ 1.5 billion. The Fund is active in 16 countries in the developing world: Afghanistan, Bangladesh, Burkina Faso, Democratic Republic of the Congo, India, Ivory Coast, Kenya, Kyrgyz Republic, Mali, Mozambique, Pakistan, Senegal, Syria,Tajikistan, Tanzania and Uganda. AKFED’s approach emphasises the development of local human resources over time, including managerial, technical, marketing and financial skills. Other characteristics of this approach include: ½ providing essential seed capital to launch projects in those sectors and countries where attracting investment is difficult, ½ taking a long-term view in order to build viable, self-sustaining and profitable companies, ½ participating in the management of companies in which it invests with the aim of preparing companies for broader ownership, thus bringing the benefits of economic development to a wider local population, ½ encouraging the development of local capital markets by floating its companies on India national stock exchanges in Africa and Asia, Development Credit Bank (DCB) of India is one of a range of banks, insurance companies, property owning and management ½ developing local human resources with the companies developed by AKFED in Africa and Asia. objective of building local management ability at all levels and creating more ½ helping to foster a sound and socially employment opportunities in higher-skilled responsible private sector in the segments of the economy, developing world through the impact of ½ helping make the programmes of its investments on individuals and on the international development agencies physical environment, more effective by acting as a bridge to ½ integrating innovative social development entrepreneurs, providing agencies with initiatives into its entrepreneurial activities knowledge of local conditions and customs, to promote the well-being
Load more

Recommended publications
  • 2018 Annual Report & Financial Statements
    @NationMediaGrp NationMediaGroup 2018 ANNUAL REPORT & FINANCIAL STATEMENTS WWW.NATIONMEDIA.COM PRINT BROADCAST ONLINE KENYA GAINED HEN SE COMMU W LF RICA NITY RE R AF W E U T A H LE AS S T E FO N R E M H E W D E R E H T GIVE WORKERS TO ON ED E M VO OR IC F E S A W U T O C N E H W E R E H T NOBEL PE THE ACE ON PR W IZ AN E M O W T S IR F S ’ A C I R F A S A E R E H T Y R T S T U H D E N R I E T W N E H E M N N I K A E N T Y R A E W LD T T O O H N N G E E ITS PIC R FIRST OLYM E G A IN S W O A R LIM G EL A’S IGHT TO AFRIC THERE WHATEVER THE@NationMediaGrp FUTURENationMediaGroup HOLDS Nation Media Group is the leading media company with businesses in television networks, print, digital and radio. NMG uses its industry-leading operating scale and brands to create, package and deliver high-quality content on a multi-platform basis. As the largest independent media house in East and Central Africa, we attract and serve unparalleled audiences in Kenya, Uganda, Tanzania, and Rwanda. We are committed to generating and creating content that will inform, educate and entertain our consumers across the different platforms, keeping in mind the changing needs and trends in the industry.
    [Show full text]
  • NMG-2013-Annual-Report.Pdf
    & 2013 Annual Report & Financial Statements 2013 1 Nation Media Group 2 The Nation Media Group, the largest independent media house in East and Central Africa with operations in print, broadcast and digital media, attracts and serves unparalleled audiences in Kenya, Uganda, Tanzania and Rwanda Published in 2014 Copyrights © 2013 Nation Media Group Limited All rights reserved. No part of this publication may be reproduced, stored in a retrivial system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the permission of the copyright holder. 90.4 Omuziki N’ebikuzimba Head Oce P.O. Box 49010 Tel. +254 20 3288000 Nation House 00100, GPO +254 20 221101 Kimathi Street Nairobi, Kenya www.nationmedia.com Browse, download or print our annual report at View our 2013 results presentation at http://www.nationmedia.com/2013 annualreport.pdf http://www.nationmedia.com/docs/2013_Results_Investor_Brieng.pdf Annual Report & Financial Statements 2013 3 BRANDS The Nation Media Group, the largest independent media house in East and Central Africa with operations in print, broadcast and digital media, attracts and serves unparalleled audiences in Kenya, Uganda, Tanzania and Rwanda Published in 2014 Copyrights © 2013 Nation Media Group Limited All rights reserved. No part of this publication may be reproduced, stored in a retrivial system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the permission of the copyright holder. 90.4
    [Show full text]
  • Mentoring: Youth Business International
    Mentoring: Youth Business International 1 What is Mentoring “Mentoring is a practical approach to help young entrepreneurs develop their abilities and insights as they start and grow their own businesses” - YBI definition Where we are – 2019 50 organisations in the Network 39 have established mentoring programmes 5 have programmes in their pilot year 14.000 Voluntary Business Mentors across the network! YBI and Mentoring What we do Help members to design and implement a new mentoring programme Support the ongoing development of mentoring programmes post pilot Hold annual events such as Mentoring Masterclasses Research Global and regional learning communities Who we are The team John Cull - Senior Consultant, London Professor Bob Garvey – Senior Consultant, York Ana Gessaghi - Senior Consultant, Argentina Alfonso Basco - Senior Consultant, Madrid Boris Tkachenko – YBR, CEO & Senior Consultant, Russia Joerg Schoolmann – Head of Mentoring, Germany Ten stages to implementing a MP Planning Evaluation Recruitment Exit Registration Mentoring Programme Manager Screening & Motivation Selection Monitoring Training Matching Core Principles • Voluntary • One to one • Non-directive • Developmental • Mentee driven • Two way relationship • Pair agree own ground-rules Some key things to know • We start small – always recommend 25/30 pairs for a first year pilot • A Mentoring Programme Manager – essential ingredient • Key challenges – recruiting volunteers, motivation, monitoring and evaluation Impact Study: Youth Business Spain • Conducted by PWC for entrepreneurs participating in the programme between 2013-2016. • Survival rate: 89% after 5 years (against 41% national average). • 67% consider mentoring to be the main reason for business success. Mentoring vs. Advising A mentor’s role ….is about guidance An advisors role…is often more the and helping entrepreneurs to role of an unpaid consultant.
    [Show full text]
  • Supporting Conservation and Local Tourism CABINET SECRETARY
    Supporting Conservation and Local Tourism CABINET SECRETARY FOR EAST AFRICAN AFFAIRS, COMMERCE AND TOURISM VISITS OLPEJETA CONSERVANCY By Victoria Nyamunga April 2014: Olpejeta House, one of the two Serena Hotels’ properties in Nanyuki (Olpejeta Conservancy) had the pleasure of hosting the Hon. Phyllis Kandie- who is the Cabinet Secretary for East African Affairs, Commerce and Tourism. Hon. Kandie was on a visit that saw her inspect some of the conservation projects undertaken by the Olpejeta Conservancy. The Cabinet Secretary applauded the exceptional efforts being made to protect endangered wildlife in Kenya. She visited “Sudan”- one of the northern white rhinos and noted that even though the Ol Pejeta Conservancy may be doing it best to ensure 24hour protection for this endangered rhino species, Kenyans and the World at large still had a personal responsibility to conserve wildlife and nature. In her statement to the team present, the Cabinet Secretary made a rallying call to the rest of the world to visit Kenya. “Kenya is a peaceful and one of the most beautiful countries in sub-Saharan Africa” she said. Her message to Kenyans was simple, “this is our heritage, let’s get out there and enjoy it in all beauty and glory. Tembea Kenya.” The Cabinet Secretary also made a call to Kenyans to continue supporting local tourism. Serena Hotels support this call noting that tourism is no longer the second largest source of foreign exchange revenue and thus the urgent need for local tourism support. Whilst the Kenya Tourism Board for instance may be responsible for maintaining information pertaining to tourism and marketing Kenya as a tourist destination Kenyans must first support the Kenyan economy and promote its rich heritage.
    [Show full text]
  • Jubilee Holdings Limited Annual Report 2009.Pdf
    ANNUAL REPORT AND FINANCIAL STATEMENTS 2009 “Only a life lived for others is a life worthwhile.” ALBERT EINSTEIN Jubilee Holdings Limited Jubilee Holdings Limited Annual Report and Financial Statements for the year ended 31st December 2009 1 81 For over 70 years Jubilee Insurance has built valuable relationships based on trust. Generations have seen us grow to be one of East Africa’s most respected companies by ContentsAdditional group information keeping our promises of friendship. Always. 2 Group Information 20-75 Financial Statements: 3 Notice of the Annual General Meeting 20 Consolidated Profit and Loss Account 6 Board of Directors 21 Consolidated Statement of Comprehensive Income 8 Senior Management 22 Consolidated Balance Sheet 10 Chairman’s Statement 23 Company Balance Sheet 13 Report of the Directors 24 Consolidated Statement of Changes in Equity 14 KENYAStatement of Directors’ Responsibilities 25 CompanyTANZANIA Statement of Changes in Equity 16 NairobiCorporate Governance Statement 26 ConsolidatedDar es Salaam Statement of Cash Flows 18 HeadReport Office of the independent auditor to the 27-74 NotesHead Office to the Financial Statements Jubileemembers Insurance of Jubilee House, Holdings Wabera Street Limited 78 SupplementaryAmani Place, Ohio Information Street, 4th floor – Group Review 10 years P.O. Box 30376 – 00100, Nairobi, Kenya 79 ProxyP.O. FormBox 20524, Dar es Salaam Tel: +254 (0)20 3281000 81 AdditionalTel: +255 Group22 2135121 Information – 4 Fax: +254 (0)20 3281150 Fax: +255 22 2135116 Email: [email protected] Email: [email protected] Mombasa Mwanza IPS Power Investments Industrial Promotion AllPack Industries Limited Jubilee Insurance Building,Services Moi Avenue, (Kenya) 3rd FloorLimited Nyanza Co-operative Union BuildingLimited P.O.
    [Show full text]
  • NMG-Annual Report 2009.Pdf
    ANNUAL REPORT AND FINANCIAL STATEMENT 2009 Contents Yaliyomo 3-11 Making of the Nation: From birth to maturity 12 Notice of Annual General Meeting 13 Tangazo la Mkutano wa Mwaka 14 Corporate Governance 16-18 Chairman’s Statement 20-22 Taarifa ya Mwenyekiti 24-26 Group Chief Executive’s Report 27-29 Ripoti ya Afisa Mkuu Mtendaji wa Kampuni 30-32 Corporate Social Responsibility 33-34 Human Resources 35 Board of Directors / Halmashauri ya Wakurugenzi 36-37 Board of Directors’ Profiles 38 Directors’ Report 39 Taarifa ya Wakurugenzi 40 Statement of Directors’ responsibilities 42-43 Executive Team Profiles 44 Report of the Independent Auditor 46-51 Financial Statements 46 Consolidated Statement of Comprehensive Income 47 Consolidated Balance Sheet 48-49 Consolidated Statement of Changes in Equity 50 Company Statement of Changes in Equity 51 Consolidated Cash Flow Statement 52-75 Notes to the Financial Statements 76 Five year Financial Summary / Taarifa Fupi ya Kifedha ya Miaka Mitano 77 Principal Shareholders and Distribution of Shareholding 79 Proxy form 80 Fomu ya Uwakilishi 1 ANNUAL REPORT AND FINANCIAL STATEMENT 2009 Making of the Nation: From birth to maturity The Aga Khan reviews printing quality at the Nation’s press during a visit in the mid-seventees. He is flanked by (left) Managing Director Stan Denman and Technical Director Vin Durnan. THE BEGINNING: 1960-1985 By any measure, 1960 was an epoch-defining year. The Cold War between the Kremlin and the West held a fearful world in its grip; blowing through this continent and, whether we like it or not, the growth American spy pilot Gary Powers was shot down over Soviet territory; of national consciousness is a political fact… our national policies must France tested its first atomic bomb; Fidel Castro nationalised industry take account of it.” in Cuba and Nikita Khrushchev angrily pounded his shoe on his desk at the United Nations.
    [Show full text]
  • Source Affiliations and Framing of the GMO Debate by East Africa's Nation
    Source affiliations and framing of the GMO debate by East Africa’s Nation Media Group Rebecca Randall A thesis submitted in partial fulfillment of the requirements for the degree of Master of Arts in International Studies University of Washington 2014 Committee: Ben Gardner Patricia Moy Program Authorized to Offer Degree: Jackson School of International Studies © Copyright 2014 Rebecca Randall 2 University of Washington Abstract Source affiliations and framing of the GMO debate by East Africa’s Nation Media Group Rebecca Randall Chair of the Supervisory Committee: Ben Gardner, Chair of Africa Studies Program and Assistant Professor, Interdisciplinary Arts Jackson School of International Studies and University of Washington at Bothell A content analysis of the East African Nation Media Group newspapers’ framing of the GMO debate from 2010-2013 adds to the global studies literature on the transatlantic debate on GMOs. The GMO debate has been described as polarized between European and U.S. political approaches and further as influencing the way that Africans respond to this inherited debate. However, newspapers in Kenya, Uganda and Tanzania have unique approaches to reporting on GMO adoption and regulation that do not ignore transnational influences but does not necessarily correspond with characterizations of an “inherited” debate. In journalists’ reporting on GMOs in Kenya, Uganda and Tanzania, they encounter transnational networks of donors, foundations, governments, researchers, farmers and others spanning from the Global North to East Africa. Each approach is described as benevolent—a panacea for hunger and malnutrition or a preservation of Africa’s biodiversity and traditional indigenous agricultural practices. This misses the skewed power balance in these transnational networks, which privilege experiences in the Global North and outline the socioeconomic conditions that have led to poverty in sub- Saharan Africa in the first place.
    [Show full text]
  • Tps Eastern Africa Plc
    TPS EASTERN AFRICA PLC UNAUDITED CONSOLIDATED RESULTS FOR THE SIX MONTHS ENDED 30th JUNE 2020 The Board of Directors of TPS Eastern Africa PLC is pleased to announce the unaudited results and financial statements for the six months ended 30th June 2020 . CONSOLIDATED SUMMARISED INCOME STATEMENT Six months to Six months to 30-Jun-20 30-Jun-19 Shs'000 Shs'000 Revenue from contracts with customers 1,105,714 2,704,836 (Loss)/Profit before exchange difference, interest, depreciation, results of associates and taxation (326,347) 124,170 Exchange loss on foreign currency loans (149,459) (18,358) Net interest cost (106,728) (84,905) Depreciation on property, plant and equipment (243,975) (233,976) Share of results of associates (39,489) (2,243) Loss before income tax (865,998) (215,312) Income tax credit 225,018 54,625 Loss after taxation (640,980) (160,687) Attributable to: Equity holders of the Company (605,868) (176,754) Non-controlling interest (35,112) 16,067 (640,980) (160,687) Loss per share attributable to the equity holders of the Company - basic (Shs per share) (3.33) (0.97) Weighted average number of shares (‘000's) 182,174 182,174 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME Six months to Six months to 30-Jun-20 30-Jun-19 Shs'000 Shs'000 Loss after taxation (640,980) (160,687) Other comprehensive income: Items net of tax Currency translation differences 266,890 264,300 Total comprehensive (loss) / profit (374,090) 103,613 Attributable to: Equity holders of the Company (338,978) 87,546 Non-controlling interest (35,112) 16,067 (374,090)
    [Show full text]
  • Annual Report and Financial Statements
    ANNUAL REPORT AND FINANCIAL STATEMENTS 2015 OUR VISION To be the Media of Africa for Africa To create value for our stakeholders and to positively influence society by providing media that informs, OUR educates and entertains. MISSION. We show pride, enthusiasm and dedication in everything that we do. We are committed to selling and delivering high quality products and services. HE T FUTURE The Nation Media Group is the largest independent media house in East and Central Africa with operations in print, broadcast and digital media, which attract and serve unparalleled audiences in Kenya, Uganda, Tanzania and Rwanda. Copyright © 2016 Nation Media Group Limited All rights reserved. No part of this publication may be reproduced, stored in a retrivial system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the permission of the copyright holder. Head Office P.O. Box 49010 Tel. +254 20 3288000 Nation Centre 00100, GPO +254 20 221101 Kimathi Street Nairobi, Kenya www.nationmedia.com Browse, download or print our annual report at View our 2015 results presentation at http://www.nationmedia.com/2015 annualreport.pdf http://www.nationmedia.com/docs/2015_Results_Investor_Briefing.pdf Our Brands Commissioning of the Printing Press by His Highness the Aga Khan on March 17th, 2016 in the presence of Cabinet Secretary of ICT Mr. Joe Mucheru, Governor of Machakos County, Dr. Alfred Mutua, Chairman Dr. Kiboro and GCEO, Joe Muganda. NATION MEDIA GROUP ANNUAL REPORT & FINANCIAL STATEMENTS
    [Show full text]
  • Challenges Faced by Nation Media Group in Entering East African Common Market
    CHALLENGES FACED BY NATION MEDIA GROUP IN ENTERING EAST AFRICAN COMMON MARKET BY CHEROTICH JOSEPHINE A RESEARCH PROJECT SUBMITTED IN PARTIAL FULFILMENT OF THE REQUIREMENT OF THE AWARD OF THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION, SCHOOL OF BUSINESS, UNIVERSITY OF NAIROBI NOVEMBER 2012 DECLARATION This research project is my original work and has not been presented for examination to any other university. Signature………………………… Date……………………………… CHEROTICH JOSEPHINE D61/75483/2009 This Research Project has been submitted for examination with my approval as the University Supervisor. Signature………………………… Date……………………………… DR. JOHN YABS LECTURER SCHOOL OF BUSINESS UNIVERSITY OF NAIROBI i ACKNOWLEDGEMENTS I acknowledge my supervisor and entire staff of the School of Business, University of Nairobi for their tireless effort in shaping me up to earn this opportunity. Special acknowledgements too to my fellow graduates for carrying out all assignments that helped complete this project successfully including the secretarial team and field assistants. ii DEDICATION I dedicate this project to my young son who persevered long hours of my absence as I worked towards its completion. God gave you the patience to be peaceful and as you spurred me on, I knew the results would be there for all to see. Indeed this has come to pass and thank you for your great motivation. iii ABSTRACT Thisstudy investigated the challenges faced by Nation Media Group in entering East Africa Common Market. The objective of the study was to determine how the NMG enters into the common East Africa market and also establish the difficulties faced by new entrants on the market. To achieve the objective, a content analysis of major documents at the NMG concerning FDI and expansion was conducted.
    [Show full text]
  • Aga Khan Fund for Economic Development
    The state of the art Dushanbe TAJIKISTAN Serena Hotel supports Tajikistan’s efforts to become a more viable and friendly destination for visitors, ultimately translating into improved economic activities in the country and increased availability of trained manpower. Partners Over 600 people were employed In line with AKFED’s objectives, the during the Dushanbe Serena’s Inn is fully staffed by local residents. Government of Norway Government of the Swiss Confederation construction and approximately In order to promote cultural awareness (SECO) 200 are employed for the hotel’s of the surrounding regions, it sells International Development Association (IDA) operation, with a focus on hiring handicrafts manufactured by the International Financial Corporation (IFC) TeliaSonera from the local population at all levels local community and also organises World Bank of the organisation. In an effort to performances of traditional music. develop local management ability, employees will be provided extensive TPS projects have and will continue to Aga Khan Fund for Economic Development training in hotel management and will contribute to Tajikistan’s economic growth be exposed to other Serena hotels in an environmentally and culturally globally for on-the-job training. sensitive manner. With the opening of the The Aga Khan Fund for Economic PamirEnergy distribution facilities of GBAO for a Dushanbe Serena Hotel, TPS is further Development (AKFED) is an 25-year concession period. Since then, Following the collapse of the Soviet Operational since 2002,
    [Show full text]
  • 2015 Annual Report & Financial Statements
    SAFARI LODGES AND CAMPS HOTELS • RESORTS 2015 Annual Report & Financial Statements Content PAGE Directors and Administration 2 - 3 Operating Subsidiaries and Properties 4 Other Corporate Information 5 Notice of Annual General Meeting 6 Notisi ya Mkutano wa Pamoja wa Mwaka 7 Chairman’s Report 8 - 10 Taarifa ya Mwenyekiti 11 - 13 The Managing Director’s Report 14 - 16 Taarifa kutoka kwa Meneja Mkurugenzi 17 - 19 Board of Directors 20 - 21 Corporate Governance Statement 22 - 26 Corporate Social Responsibility 27 - 32 National & International Awards and Accolades 33 Directors’ Report 34 Statement of Directors’ Responsibilities 35 Report of the Independent Auditor 36 FINANCIAL STATEMENTS Consolidated Income Statement 37 Consolidated Statement of Comprehensive Income 38 Consolidated Statement of Financial Position 39 Company Statement of Financial Position 40 Consolidated Statement of Changes in Equity 41 - 42 Company Statement of Changes in Equity 43 - 44 Consolidated Statement of Cashflows 45 Notes to the Financial Statements 46 - 76 Notes 77 - 80 Proxy Form / Fomu ya Uwakilishi 81 Directors and Administration BOARD OF DIRECTORS Francis Okomo-Okello (Chairman) Mahmud Jan Mohamed (Managing Director) Abdulmalek Virani (Finance Director) Ameer Kassim-Lakha Dr. Ramadhani Dau*** (Resigned 28.04.16) Jack Jacob Kisa Jean-Louis Vinciguerra* Mseli Abdallah*** (Resigned 28.04.16) (Alternate to Dr. Ramadhani Dau) Guedi Ainache* Ashish Sharma* (Alternate to Jean-Louis Vinciguerra) Mahmood Pyarali Manji Teddy Hollo Mapunda***(Mrs) Damien Braud* (Appointed 29.07.15) BOARD AUDIT COMMITTEE Ameer Kassim-Lakha (Chairman) Jean-Louis Vinciguerra* Guedi Ainache* Mahmood Pyarali Manji BOARD NOMINATION AND REMUNERATION COMMITTEE Jack Jacob Kisa (Chairman) Dr. Ramadhani Dau*** (Resigned 28.04.16) Guedi Ainache* Mahmood Pyarali Manji Teddy Hollo Mapunda***(Mrs) *French ***Tanzanian COMPANY SECRETARY Dominic K.
    [Show full text]