The Aga Khan Fund for Economic Development has announced plans to invest $100 million in Tanzania over the next three years, targeting healthcare, renewable energy, and financial services. The commitment was made by AKFED CEO Dr Mahmoud Jan Mohamed during a meeting with President Samia Suluhu Hassan at the State House in Dar es Salaam on June 13.

The largest share — $40 million — will go toward upgrading and expanding the Aga Khan Hospital in Dar es Salaam, including construction of a new specialised cancer treatment centre and an expanded maternal and child health wing. A further $30 million will be directed to renewable energy projects, specifically small-scale solar and hydropower installations in rural areas aimed at increasing electricity access in off-grid communities.

The remaining $30 million is earmarked for expanding the operations of Jubilee Insurance and Diamond Trust Bank in Tanzania, with a focus on digital financial services and micro-insurance products targeting low-income households.

"Our planned investment of $100 million will help improve healthcare access for millions of Tanzanians, expand clean energy solutions, and deepen financial services in underserved communities," Dr Jan Mohamed said.

President Hassan welcomed the commitment, noting AKFED's long-standing role in Tanzania's development. "The Aga Khan Development Network has been a trusted partner in Tanzania's development for decades," she said.

AKFED has operated in Tanzania for more than 60 years, with investments spanning healthcare, education, media, tourism, and financial services. The organisation currently employs over 11,000 people in the country. The planned investment is expected to create approximately 3,000 additional jobs across the various projects.