INVESTMENT OF $20M
Mineworkers’ fund backs Africa’s digital future with $20m investment
The MWPF is the first African investor in Convergence Partners’ digital infrastructure fund
27 January 2022 - 16:12
UPDATED 27 January 2022 - 23:50
The Mineworkers Provident Fund (MWPF), which oversees about R30bn on behalf of its 75,000 members, has invested $20m (R305m) in Convergence Partners’ digital infrastructure fund, a private-equity vehicle that invests in technology aimed at enabling Africa’s participation in the digital economy.
Convergence Partners, which was founded in 2006 to invest in the Sub-Saharan African technology sector, is targeting a total capital raise of $250m for its digital infrastructure fund, which announced a first close of $120m in July and currently has about $190m available for deployment...
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