PODCAST | Andile Ngcaba on how to grow Africa’s tech ecosystem
Andile Ngcaba, chair of Convergence Partners, joins host Mudiwa Gavaza
22 January 2024 - 14:51
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
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.
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.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
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.
Join the discussion:
Subscribe: iono.fm | Spotify | Apple Podcasts | Pocket Casts | Player.fm
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.
MORE PODCASTS:
PODCAST | Tackling political risk and uncertainty in the SA economy
PODCAST | Making online spaces healthier for young people
PODCAST | EasyPay Everywhere’s financial inclusion strategy
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Most Read
Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.