MAPUTO, March 1: The Aga Khan Fund for Economic Development (AKFED) has purchased the world renowned Hotel Polana as the first step in a tourism development programme for Mozambique that will expand further its interest in this sector of economic activity in Eastern Africa, says a press release.

The acquisition of the Hotel Polana expands the commitment of the Aga Khan Development Network (AKDN) to Mozambique and complements its expanded social development initiative in the country.

These initiatives, commenced under an Agreement of Cooperation for Development, include a major rural development programme serving coastal communities in one of the country’s poorest regions, collaboration with university and professional training institutions and the planning of a major school complex in Maputo.

The AKDN is a group of private, non-denominational development agencies and institutions that seek to empower communities and individuals, often in disadvantaged circumstances to improve living conditions and opportunities.