Aga Khan Fund for Economic Development
Integrating Central Asia into the World Economy:
The Role of Energy and Transport Infrastructure
October 21 - 23 2007
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October 2007
June 2006
Aga Khan Fund for Economic Development
AKFED GLOBAL PRESENCE
Canada
West Africa
Côte d’Ivoire
Sénégal
Mali
Burkina Faso
Central Africa
Dem. Rep. of the
Congo
Middle East
Syria
South Asia
Pakistan
Bangladesh
Central Asia
Tajikistan
Afghanistan
Kyrgyzstan
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Aga Khan Fund for Economic Development
About AKFED
 For profit agency involved in longterm investment
 Over 90 project companies
in 5 sectors
Industrial
Promotion
Services
Tourism
Promotion
Services
Financial
Services
Media
Services
 More than 30,000 employees
Aviation
Services
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June 2006
Aga Khan Fund for Economic Development
AKFED ‘s Approach to Development
 Entrepreneurship promoted with economically sound enterprises in
the developing world
 Long-term investments with:
• Strong equity positions
•
Provision of management expertise
 Investments in fragile and complex environments:
• Prospects of improving the lives of people
 Profits entirely reinvested in further development initiatives
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June 2006
Aga Khan Fund for Economic Development
AKFED in Central Asia
 Tourism:
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Islamabad Serena Hotel + Swat/Gilgit
Kabul Serena Hotel
Dushanbe Serena Hotel
Khorog Serena Inn
 Financial Services:
• Habib Bank (Pakistan, Afghanistan)
• First Microfinance Banks/Microfinance programs (Pakistan,
Afghanistan, Tajikistan, Kyrgyzstan)
• Kyrgyz Investment and Credit Bank (Kyrgyzstan)
• Insurance companies (Pakistan)
 Industry/Infrastructure
• Pamir Energy (Tajikistan)
• Indigo (Tajikistan)
• Roshan (Afghanistan)
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June 2006
Aga Khan Fund for Economic Development
AKFED’s Regional Partners
 TeliaSonera:
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Publicly traded Scandinavian telecommunications company, with a large
footprint in the Caucuses and Central Asia;
Co-shareholder at Roshan (Afghanistan) and Indigo (Tajikistan)
 Monaco Telecom International/Cable&Wireless:
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37.25% investor in Roshan / Technical partner
 Asian Development Bank (ADB):
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Lead partner in senior debt financing in Roshan ($70 million)
Committed to finance private projects with AKFED
 DEG, PROPARCO:
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$30 million financing in Roshan
 IFC and World Bank:
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$>15 million Financing/grants in Pamir Energy
 Norfund, FMO, IFC:
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>$30 million financing to Serena Hotels in Afghanistan and Pakistan
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October 2007
June 2006
Aga Khan Fund for Economic Development
Telecom Sector – Our Experience in Central Asia
 The largest partnership in telecoms in the region
 Roshan (Afghanistan):
• 1.8 million customers
• Largest coverage (200 cities, rural areas, border roads)
• Largest private sector employer – over 20,000 direct & indirect
employment
• Largest taxpayer, representing 6% of the government’s budget
• Largest private investor with over $350 million investment
by end 2007
 Indigo (Tajikistan):
• 600,000 customers
• Largest coverage including remote areas
• Some $70 million investment by end 2007
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June 2006
Aga Khan Fund for Economic Development
Telecoms in Central Asia
End 2007
Estimated
Roshan
(Afghanistan)
Indigo
(Tajikistan)
Total
Investment
$350 mio
$70 mio
$420 mio
Customers
1,800,000
600,000
2,400,000
Coverage
200 cities
45% population
All major roads
90% of populated
area in Tajikistan
n/a
Gov. rev.
$75 mio
$5 mio
$80 mio
90
Nil
90
20,000
3,000
23,000
Expatriates
Employment (incl.
indirect)
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June 2006
Aga Khan Fund for Economic Development
Market Overview
 Roshan established mid 2003 after transparent license tender
 Drove the industry from 80K subscribers to 3.5 mio subscribers
in 4 years:
• The fastest growing market today in terms of penetration
 Entry barrier dropped from $400 to around $30 today
 Today, there are 5 operators in the market, but how many can
survive?
 Predominantly pre-paid market
 Growth in country and region requires better connectivity such as
fibre:
• Drives quality of service
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June 2006
Aga Khan Fund for Economic Development
Roshan – A Case Study
 International shareholders with
expertise in emerging markets and
Central Asia:
• AKFED – 51%
• MTI – 36.75%
• TeliaSonera – 12.25%
 The name Roshan means “Light”
and “Hope” in Pashto and Dari,
Afghanistan’s two main languages
 Social development is part of our
DNA
 Roshan strives to be the
benchmark in terms of corporate
governance
“Roshan is not just a telecoms company, we are a catalyst for
growth and an intrinsic part of the reconstruction of Afghanistan”
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Aga Khan Fund for Economic Development
Roshan Coverage
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Touching the Customer
 Built the largest distribution
network in Afghanistan:
• 200 Points of Presence
• >3,000 Scratch Card distribution
points
• Established >1,500 PCOs
 First Western style Customer Care
Center:
• 200 CSRs
• Customer Care Centers
in 25 cities
• Fluent in Dari, Pashto, English,
Urdu and other languages
• First Telemarketing organization
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Touching the Customer
One Smile Can Build A Relationship
 Established concept of
Roshan Family
 “Relationships & Progress”
 Started the first tag-line:
“Nazdik Shodan”
It’s all about dreams. Its about hopes. Its about
the future. Its about Roshan
Roshan – your connection to everyone.
Whether you want to get in touch with your
Friends, family or business partners, Roshan is
there for you.
Be a part of the Roshan family today. Because
we help you progress
One Relationship Can Lead to Progress
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October 2007
June 2006
Aga Khan Fund for Economic Development
Leveraging Communications
 Telemedicine project in Kabul:
• In conjunction with Cisco, Aga
Khan University Hospital
Karachi, and the French
Medical Institute for Children
 Provide in country access to
specialist diagnosis and training
resources
 Bringing Mobile Banking to
Afghanistan in conjunction with
Vodafone
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October 2007
June 2006
Aga Khan Fund for Economic Development
International Recognition
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Best GSM Marketing Campaign,
GSM Conference (February 2005)
Best Telecom Brand in Middle East
& Africa, COMMS MEA Awards
(September 2006)
Best Operator in Developing
Marketing, World Communications
Awards (November 2006)
Special Recognition for Excellence
in Corporate Philanthropy, CECP
(February 2007)
Best Customer Service Award,
COMMS MEA Awards
(September 2007)
“This is the first time I feel I am part of a country. I am proud to be
an Afghan and proud to be a part of Roshan” Roshan Employee
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October 2007
June 2006
Aga Khan Fund for Economic Development
Establishing the Right Enabling Environment
 The right Enabling Environment is a necessity to spur
private sector investment:
• Stable regulatory environment:
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Telecom Law
Independent and experienced Regulator
Appeal Process
Universal Fund to be managed transparently
Establish interconnection rates
• Stable fiscal environment :
• Customs & Tariffs
• A known tax regime
• Encourage investment
• Level playing field
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October 2007
June 2006
Aga Khan Fund for Economic Development
Key Benefits of working with AKFED
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Transparency
Best practice
Commitment to the region
Financial strength
World class partners
Universal service
Speed of implementation
Collaboration with the Government
Fiscal discipline
Social development
Job creation
AKFED’s commitment - high level promotion of the region
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Aga Khan Fund for Economic Development
SOCIAL DVD to be played at the end
(length 4 mins)
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