Lagos - South African private-equity firm, Convergence Partners Investments Ltd. has agreed to invest a third of its $250 million ICT fund to develop telecommunication infrastructure in Nigeria and other parts of West Africa.
The Convergence Partners Communications Infrastructure Fund (CPCIF) is the only fund dedicated solely to Africa’s Information Communications Technology (ICT) sector, reports BusinessDay
The firm plans to spend at least a third of the fund in West Africa with the bigger slice of the regional investment going to Nigeria, Africa’s biggest oil producer and mobile-phone market.
The firm has concluded plans to set up a West African office in Lagos within the next year to oversee the new investments.
Read more at BusinessDay