Prince Karim Aga Khan IV, the spiritual leader of Ismaili Muslims around the world, has died at the age of 88.
The businessman, philanthropist and founder of the Aga Khan Development Network (AKDN) died in Lisbon, Portugal. What William Ruto said about Aga Khan President William Ruto led Kenyans to join the world in pouring heartfelt tributes to the global icon of peace, as many remembered him for his contribution to various industries. “He was an extraordinary leader who went beyond what seemed impossible to help the vulnerable — through his charities in hospitals and schools,” said Ruto. Who is Prince Aga Khan IV? The Aga Khan IV succeeded his grandfather, Sir Sultan Mahomed Shah Aga Khan, as Imam of the Shia Ismaili Muslims in 1957 at the age of 20. Since taking on his role in 1957, he received His Highness title from Queen Elizabeth II.
AKDN wrote that in recognition of his exceptional efforts and contributions to human development and improving the social condition of societies globally, the Aga Khan has, over the last six decades, received numerous decorations, honorary degrees, and awards from institutions and nations across the world. Which businesses did Aga Khan start in Kenya? His Highness leaves a legacy of multibillion-shilling business empires in Kenya, which he established through the Aga Khan Fund for Economic Development (AKFED). The businesses mainly focused on sectors like banking, media, and hospitality, and aimed to contribute to economic development in Kenya. Below is the list of prominent businesses established by Aga Khan in Kenya:
1. Nation Media Group
Nation Media Group is a prominent Kenyan media company encompassing publications like Daily Nation, Sunday Nation and Taifa Leo. The Nairobi Securities Exchange (NSE)-listed firm operations in print, broadcast and digital media, which attract and serve unparalleled audiences in Kenya, Uganda, Tanzania and Rwanda. It was founded by His Highness Aga Khan in 1959.
2. Serena Hotels
Aga Khan IV established Serena Hotels in 1970 with a vision to develop tourism potential and leverage hospitality as a catalyst for economic growth, cultural heritage preservation, and environmental sustainability in Kenya and the East African region. Serena Hotels has a portfolio of 33 properties across 8 countries in Africa and Asia and remains deeply committed to sustainable development and community empowerment.
3. Tourism Promotion Services Eastern Africa Ltd
A company focused on developing and managing tourism infrastructure in the region. It runs environmentally sustainable hotels to encourage tourism and associated economic benefits in underserved regions.
4. Jubilee Life Insurance
The company is a subsidiary of Aga Khan Fund for Economic Development. Jubilee Life Insurance is engaged in life insurance, carrying on non-participating business. Here is the full list of Jubilee Life Insurance-associated businesses: 1. Ace First Consulting (FZE) Sharjah 10 Atlas Battery Limited 19. International Industries Limited 28. Oriental Boats 2. Aga Khan Fund for Economic Development 11. Central Depository Company of Pakistan Ltd. 20. International Steel Limited 29. Rural support program network 3. Aga Khan University Hospital 12. Diamond Trust Bank Kenya Limited 21. Jubilee General Insurance Company Limited 30. Telecom Development Company Afghanistan Limited 4. Aga Khan Cultural Services Pakistan 13. First Habib Bank Modaraba, Pakistan 22. Jubilee Holding Limited Kenya 31. The First Micro Finance Bank Limited 5. Aga Khan Health Services Pakistan 14. Habib Allied International Bank Plc UK 23. Jubilee Insurance Company of Kenya Ltd 32. The Jubilee Insurance Company Burundi 6. Aga Khan Education Services Pakistan 15. Habib Bank Limited 24. Jubilee Investment Company Limited Uganda 33. The Jubilee Insurance Company of Mauritius Ltd 7. Aga Khan Planning and Building Services, Pakistan 16. HBL Asset Management 25. Jubilee Kyrgyzstan Insurance Company CJSC 34. The Jubilee Insurance Company of Tanzania Ltd 8. Aga Khan Agency for Micro Finance 17. HBL Currency Exchange (Pvt.) Limited 26. Kyrgyz Investment and Credit Bank CJSC 35. Tourism Promotion Services (Pakistan) Ltd 9. Allana Watch (Pvt) Limited 18. Industrial Promotion Services (Pakistan) Ltd 27. NBP Fullerton asset management
Other Aga Khan organisations based on social development include: Aga Khan Health Services, Aga Khan Schools, Aga Khan Agency for Microfinance, Aga Khan Foundation, Aga Khan Agency for Habitat as well as two universities, the Aga Khan University and the University of Central Asia. The Aga Khan Trust for Culture co-ordinates AKDN’s cultural activities, including the Aga Khan Award for Architecture, Historic Cities Programme Aga Khan Music Programme and Awards, Aga Khan Museum, and Aga Khan Program for Islamic Architecture (at Harvard and MIT). Aga Khan emerald Meanwhile, a rare square 37-carat emerald owned by the Aga Khan fetched nearly nine million dollars at auction in Geneva in November 2024, making it the world’s most expensive green stone. Sold by Christie’s, the Cartier diamond and emerald brooch, which can also be worn as a pendant, dethrones a piece of jewellery made by the fashion house Bulgari, which Richard Burton gave as a wedding gift to fellow actor Elizabeth Taylor, as the most precious emerald. In 1960, Prince Sadruddin Aga Khan commissioned Cartier to set the emerald in a brooch with 20 marquise-cut diamonds for British socialite Nina Dyer, to whom he was briefly married.
by Wycliffe Musalia
