Industrial Promotion Services (IPS) is the infrastructure and industrial development arm of the Aga Khan Fund for Economic Development (AKFED), which is an affiliate of Aga Khan Development Network (AKDN).
Established in the early 1960s, IPS was created to provide venture capital, technical assistance and management support to encourage and expand private enterprise in the developing world, particularly countries of sub-Saharan Africa and South Asia.
Evolution of IPS
IPS tailors its approach to be an integral part of the development agenda outlined by the national governments in the region. Since inception, IPS adapted through privatisation, re-orientation from import-substitution towards export promotion, and more recently investment in infrastructure.
To enable industrialisation and modernisation as well as reduce reliance on expensive imports, IPS promoted the local manufacture of goods for the domestic market.
In response to the changing trade reforms from import substitution to export promotion, IPS established several industries that produced high value added products using locally sourced materials for the export market, creating a broader socio-economic impact across the value chain.
With a track record of building many enduring private industrial enterprises in a credible and integral manner, IPS won several bids to privatise state-owned industries in the leather and packaging sectors.
To address national development needs, IPS started to invest in pioneering infrastructure projects within the energy and telecommunications sectors in East Africa. This led to the establishment of successful Private Public Partnerships, innovative models of financing and catalytic socio-economic impact.Read more