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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UK launches project to take innovative African digital startups to the next level

AFRICA— The United Kingdom (UK)’s Department for Digital Culture, Media and Sport has launched a scheme to develop next generation of African start-ups. The project named “Go Global Africa 2020” aims to build links with the UK’s thriving digital sector and pave the way for future economic partnerships. The program is currently open to firms from Kenya, Nigeria and South Africa developing tech solutions in finance, agriculture, health and clean energy and will be run by the Department for Digital, Culture, Media and Sport through its International Tech Hub Network.…

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Cisco invests US$9.49m to support South Africa digitisation

SOUTH AFRICA – Cisco, a US-based networking solution giant, announced a US$9.49 million investment to support the digitisation of SA. Cisco’s Country Digital Acceleration (CDA) initiative is a global programme aimed at accelerating national digitisation agendas to support job creation, innovation, and help drive economic growth and sustainable and equitable communities. The investment focuses on job creation through Cisco incubation centres, skills and talent development as well as national cyber security. Stella Ndabeni-Abrahams, the Minister of communications and digital technologies sand Clayton Naidoo, general manager for Sub-Saharan Africa at Cisco,…

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Zambia invests US$110 million in digital infrastructure

ZAMBIA – Deputy Secretary to Cabinet Christopher Mvunga said the government has so far invested over US$110 million in digital infrastructure development with a view of being in tandem with digital technology. He was speaking in Lusaka today when he officiated at the validation workshop on the Digital Economy Diagnostic for Zambia. According to Lusaka Times, the government has reaffirmed its commitment towards embracing digital technology in an effort to accelerate economic growth in the country. Mr. Mvunga explained that through Smart Zambia the country has embraced technology enhancement in…

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