BUSINESS DAY SPOTLIGHT
PODCAST | Andile Ngcaba on how to grow Africa’s tech ecosystem
Andile Ngcaba, chair of Convergence Partners, joins host Mudiwa Gavaza
Growing Africa’s technology ecosystem and attracting more funding to the sector is the focus of this edition of the Business Day Spotlight.
Our host, Mudiwa Gavaza, is joined by Andile Ngcaba, chair of Convergence Partners.
Ngcaba discusses the firm’s investment philosophy, fund structure and strategy.
Founded by Ngcaba, Convergence Partners is a private equity firm that specialises in digital infrastructure investments, having raised $296m (R5.4bn) in January 2023 for its third fund. This has been earmarked for opportunities across Sub-Saharan Africa.
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The firm has put those funds to work, announcing last week that it has agreed to acquire 100% of Datacentrix Group from former JSE-listed technology group Alviva.
Ngcaba outlines the rationale of the deal and how it fits into Convergence Partners’ current strategy.
As to the possibility of listing the business down the line, Ngcaba says this will depend on market conditions.
Topics of discussion include the firm’s investment philosophy; Convergence Partners’ deal to buy Datacentrix; the growth of private equity in Africa; and the opportunities the firm sees in tech investment.
Business Day Spotlight is a TimesLIVE Production.