Release date: 16 February 2012
Promoter – Financial Intermediary
Convergence Partners ManagementLocation
Description
Equity participation in a closed-end private equity fund targeting information and communication infrastructure projects and ancillary businesses in Africa, with primary focus on Sub-Saharan Africa.
Objectives
The Fund will typically acquire minority stakes in enterprises engaged in the design and deployment of communication infrastructure in Sub-Saharan Africa (e.g. fixed and wireless telecommunications networks, software, hardware and switching technologies as well as related service companies). The Fund will target both greenfield projects and seek to expand and further develop existing infrastructures. The Fund will contribute to the deployment of comprehensive communications solutions across Sub-Saharan Africa, while creating financial value through driving the growth and profitability of investee companies and enhancing their skills as well as governance, environmental and social standards.
Comments
Sector(s)
- Services - Financial and insurance activities
Proposed EIB finance (Approximate amount)
EUR 19 million
Total cost (Approximate amount)
EUR 231 million
Environmental aspects
The Fund’s operational guidelines provide for environmental and social due diligence of investee companies according to guidelines acceptable to the Bank.
Procurement
Not applicable.
Status
Signed - 18/12/2012
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).