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The AgaKhan 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.'Through the Hotel Polana,' said Nazim Ahmed, AgaKhan Development Network representative for Mozambique, 'we hope to make the unique cultures, history and natural resources that Mozambique has to offer the world, more widely accessible.'

The Aga Khan Fund for Economic Development (AKFED) has purchased 100 per cent of the shares in Maputo's best known hotel, the Polana.
Previously the hotel was 55 percent owned by a foreign consortium headed by the South African Kairos Hotels group, and 45 per cent by Mozambican companies - the national airline, LAM, the private financial investment company, SOCIEF, and the state- owned National Tourism Company, ENT.

The new owners signed the deeds of purchase in Maputo on Wednesday.