Nedbank funds next phase of Convergence investments
Banking group Nedbank Capital has agreed to a R400-million long-term funding facility to finance the next phase of Convergence Partner’s investment vehicle, Convergence Partners Investments (CPI), ambitions.
CPI, which housed the information and communications technology (ICT) group’s first investment portfolio, would primarily use the facility for the activities of the Convergence Partners Communications Infrastructure Fund (CPCIF).
“This new facility will support the critical investment activities of our recently launched ICT infrastructure fund,” commented Convergence CEO Brandon Doyle in a statement on Monday.
“CPCIF, which reached its first close of $145-million in November last year, is the second investment vehicle that Convergence Partners manages, focusing on ICT infrastructure-related companies and projects on the African continent,” he explained.
The group aimed to focus strongly on initiatives that “increase the availability of communications, broadband services and new technology offerings” in Africa.
Nedbank Capital participated in the original capitalisation of CPI, through a fully settled R300-million preference share facility, which had funded CPI’s investment activities over the past seven years.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
















