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LONDON, Jan. 22, 2020 /PRNewswire/ -- Globeleq, the leading independent power producer in sub-Saharan Africa, and IPS (West Africa), a company owned by the Aga Khan Fund for Economic Development, announced that their subsidiary, Azito Energie SA has reached Financial Close on its 253 MW expansion of the existing Azito gas-fired power plant near
Abidjan.

The Privatisation Commission yesterday formally granted the Aga Khan Fund for Economic Development (AKFED), the rights to 51 per cent of the shareholding in Habib Bank Ltd against a committed investment of Rs22.4 billion ($389 million) in accordance with all statutory requirements and terms approved by the Cabinet Committee on Privatisation.'This sale represents a very important step towards enhancing potential in the financial services sector and towards reinvigorating investment by those with a solid and proven interest in growing this country's economy,' said Pakistan's Finance Minister Sha

Pakistan's second largest commercial bank, Habib Bank has been handed over to Aga Khan Fund for Economic Development.
An agreement was signed in Islamabad this afternoon by the Privatisation Commission and the Fund for transfer of management of the bank.
Aga Khan Fund had given the highest bid of over 22 billion rupees in December last year for acquiring 51% strategic stake and acquiring management control in the Bank.

The Aga Khan Fund for Economic Development (AKFED) concluded the privatisation of Habib Bank Ltd (HBL) with the Privatisation Commission formally granting AKFED rights to 51 percent of the shareholding in HBL against a committed investment of Pakistani Rupees 22.409 billion (US$389 million).

The Privatisation Commission today formally granted the Aga Khan Fund for Economic Development (AKFED) rights to 51% of the shareholding in Habib Bank Limited against a committed investment of Pakistani Rupees 22.409 billion (US$389 million) in accordance with all statutory requirements and the terms of the successful bid as approved by the Cabinet Committee on Privatisation.