Original disclosure @ IFC website
Updated in EWS May 13, 2021
Disclosed by Bank Mar 9, 2021
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The proposed project consists of an equity investment of Convergence Partners Digital Infrastructure Fund, a digital infrastructure investment vehicle focused on sub-Saharan Africa (SSA), seeking for a third party commitments and to comprise two parallel funds in South Africa and Mauritius. The fund’s strategy is to invest in companies operating in the digital technology sector and ICT infrastructure with a geographical focus on Nigeria, Ghana, Cote d’Ivoire, the Democratic Republic of Congo (DRC), Ethiopia, South Africa, Kenya, Uganda, Zambia, Tanzania, Mozambique, Botswana.
The Project is expected to result in increased capacity of digital infrastructure, with the potential to improve the quality of digital connectivity and services for individuals and businesses. These outcomes would be achieved by supporting the sharing of broadband and data infrastructure and adding new international connectivity and data center capacity across a number of countries, including some with substantial gaps in digital connectivity. Beyond the Project, this investment has the potential to result in increased competitiveness of the market for digital connectivity and data across the target countries, by creating competitive markets via demonstration and replication channels.
Project contacts not available at the time of disclosure.
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