Review on Convergence Partners by Temitope Olowookere
Development reaching Africa and Middle East
Convergence Partners known as a pan-African private equity investor that is basically focused on the ICT sector in Africa.
However, it has been proven that Convergence Partners have been successful in developing investment opportunities and also adding value to investments across the life cycle of ICT.
They have focus on initiatives that accelerates the availability of communications, new technology and broadband networks to the people of Africa.
Convergence partners operates a foundation called Convergence partners foundation which was later converted to Ngcaba foundation. The aim is to support technology based initiatives in order to increase access to quality education as well as developing ICT skills through mentorship.
As at February 2021 they announced the acquisition of CTrack a telematics software providing fleet management, insurance, weather telematic solutions and asset tracking solutions to its subscribers in Africa and in the Middle East.
Pros
- Improving lives of people thereby making the society a better place.
- Created over 300 jobs through the foundation, 30% of the beneficiaries are women.
Cons
- None for now
