Convergence Partners Seeks To Partner and Invest In ICT Companies. Convergence Partners is a pan-African tech focused private equity player, delivering enhanced investment returns while underpinning continental development. It has a proven track record of developing new investment opportunities as well as active adding value to investments across the lifecycle of tech assets. As impact investors, Convergence Partners brings its skills, experience and capital to accelerate ICT infrastructure development in Africa, focusing on initiatives that increase availability of communications, broadband services and new technology offerings to the people of Africa.
Convergence Partners, founded in 2006 by Andile Ngcaba, who is also the controlling shareholder and non-executive Chairman of Convergence Partners is an investment management firm focused on the TMT sector in Africa. He has participated in ICT decision-making forums and has influenced the formation of various African forums and organisations responsible for shaping the ICT sector at national, continental and global levels through his activities on various bodies including the ITU, ICANN and the African Union.
The company also formed a foundation called the Convergence Partners Foundation, which is a non-profit trust that aims to promote social development. The foundation focuses on developing critical short ICT skills through bursaries and mentorships as well as supporting tech-based educational initiatives to improve access to high quality education. The foundation also co-invests with Convergence Partners as broadband beneficiary to ensure sustainability.
The company announced its recent partnership with vehicle tracking company Ctrack. “Our interest in the business relates to its proven market leadership in the development of analytics solutions using big data extracted from the cloud platform. We believe that the business is well poised to use its market advantage to further its ambitions in the automotive technology space by continuing to develop its IoT and artificial intelligence technologies.” said Ngcaba in a statement.