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Convergence Partners launches $145 million African Infrastructure Fund
Convergence Partners, which is already rolling out a fiber network in South Africa, has invested US$30 million in the fund. Other investors include the Development Bank of Southern Africa, the World Bank’s International Finance Corporation, European Investment Bank and CDC, the UK’s development finance institution.
In addition to its Johannesburg office, Convergence Partners will open regional offices in Nairobi, Kenya to cater for the east and central African region and Lagos, Nigeria – to cater for the West African region.
Convergence Partners is also looking into an opportunity to establish a teleport in Africa.
According to Ngcaba, one of the biggest issues in Africa was that a lot of data traffic was being routed into Europe. By having a teleport, data and voice will be routed within Africa via satellite. “Teleport is a great opportunity to ensure traffic remains within the continent,” he added.
Source: BD Live
