PE Convergence Partners raises US$120m to drive Africa’s digital inclusion

SOUTH AFRICA – Convergence Partners, the private equity investment firm has announced the first close of its third fund after raising US$120 million. The Convergence Partners Digital Infrastructure Fund (CPDIF) is targeting a final size of US$250 million. The investment company now has more than US$400 million of capital under management. Investors in CPDIF include the CDC Group (the UK’s development finance institution), the US International Development Finance Corporation, the European Investment Bank, the International Finance Corporation and Proparco (the private sector arm of the Agence Française de Développement — AFD…

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Uganda secures US$200m from World Bank to accelerate digital transformation and inclusiveness

UGANDA – The World Bank has approved US$200 million financing to expand access to high-speed and affordable internet, improve efficiency of digitally enabled public service delivery, and strengthen digital inclusion in Uganda. The new Uganda Digital Acceleration Project-GovNet (UDAP-GovNet) will support the extension of 1,000 kilometres of the national backbone fibre infrastructure, an additional 500 kilometres of fibre optic network links between towns, mobile broadband connections for 900 government administrative units and service centres in underserved areas, and 828 Wi-Fi hotspots in select locations to support access to online services among rural and peri-urban,…

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Fintech and telecom companies partner to launch Sasai WiFi Finder to boost digital inclusion in Africa

AFRICA – Cassava Fintech International (CFI), a Finance Technology company that offers innovative digital transaction solutions, and Liquid Telecom Group (LTG), a communications solutions provider, have teamed up to develop a service aimed at accelerating digital and financial inclusion in Africa. Through the newly launched Sasai WiFi Finder, the duo plan to establish an expansive network of data access points across Africa and build ‘Africa’s Missing Network’ by partnering with broadband providers, Internet service providers and local community hubs. The service, which is set to be rolled out across thousands…

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GSMA sets up a digital inclusion fund for Africa and Asia

AFRICA – GSMA, a mobile industry group, has announced the launch Innovation Fund for Mobile Internet Adoption and Digital Inclusion. The fund is designed to increase mobile internet adoption and usage among those who have coverage but are not using it in countries in Africa and Asia.   The Innovation Fund is supported by the UK Department for International Development (DFID), the Federal Ministry for Economic Cooperation and Development (BMZ) in Germany, the GSMA and its members.   The fund’s main goal is to find innovative ways to solve the usage gap…

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