PODCAST | Private equity investment in Africa

Private equity investment in Africa is the focus of this edition of the Business Day Spotlight.

Our host Mudiwa Gavaza is joined by Brandon Doyle, CEO of Convergence Partners. 

Doyle explains the firm’s investment strategy and focus.  

Founded by business-person Andile Ngcaba, who serves as chair, Convergence Partners specialises in digital infrastructure investments, having raised $296m (R5.4bn) in January for its third fund. This has been earmarked for opportunities across Sub-Saharan Africa.

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Those funds are being put to work, with the firm announcing in April that it had invested $10m into 42Markets Group, an incubator, investor and builder of fintech companies. 

Doyle says that the funds will enable 42Markets “to accelerate growth through the buildout of its product set and further geographic expansion”. 

The new capital is set to grow 42Markets’ portfolio companies, made up of Andile, FXFlow and Mesh.trade, which will receive the bulk of the funds. 

Topics of discussion include: the firm’s investment strategy; the growth of private equity in Africa; opportunities in telecom infrastructure investment; and the company’s focus on fintech.

Business Day Spotlight is a TimesLIVE Production.