Convergence Fund

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The Project consists of an IFC’s equity commitment of up to US$45 million in Convergence Partners Communications Infrastructure Fund LLC, an up to US$500 million investment vehicle, which is being raised and will be managed by Convergence Partners Management Limited (“Convergence Partners”), a South Africa based investment management firm.The Fund’s strategy is to invest in the opportunities presented by current underdeveloped state of Information and Communication Technologies (ICT) infrastructure in Africa. In IFC’s experience, funding is often not the only requirement for successful ICT infrastructure investments. Other critical components include project conceptualization, design, development and implementation. Over the past few years, Convergence Partners have demonstrated the capacity, knowledge and skills, as well as proven investment track that position the firm to successfully capitalize on the opportunities in Africa ICT infrastructure sector.