Industrial Promotion Services (IPS) is the industrial development arm of the Aga Khan Fund for Economic Development (AKFED). AKFED is a member of the Aga Khan Development Network.
Location IPS is headquartered in Nairobi, Kenya, and has subsidiaries in Tanzania and Uganda.
Development projects The development projects that IPS is involved in include:
An equity participation in the 74MW Kipevu II Power Plant in Kenya An equity participation in the 288MW Azito Power Plant in Ivory Coast An equity participation in the 250MW Bujagali Power Plant in Uganda. Other partners in this project include Sithe Global Power LLC, an American power development company. Sithe Global Power LLC, is owned by the Blackstone Group and Reservoir Capital Group. Bujagali Hydro Power Project Through its Special Purpose Vehicle subsidiary West Nile Rural Electrification Company, an equity participation in the 3.5MW Nyagak I Power Station in West Nile sub-region, in Northern Uganda
Ownership
The shareholders in IPS are summarized in the table below: Ownership of IPS
+ Industrial Promotion Services stock ownershipRank Name of ownerPercentage ownership1Aga Khan Fund for Economic Development51.03German Investment Corporation (DEG)14.54Others19.5
DEG stands for German Investment Corporation, the investment arm of the Federal Republic of Germany
See also Aga Khan Fund for Economic Development DEG KfW
External links Bujagali Hydro Power Project homepage AKFED homepage
References