Convergence Partners releases Annual Report for 2011, celebratin

Convergence Partners released its Annual Report for 2011 financial year, celebrating an exciting and successful first five years of investing in the fast growing African ICT market.

In his Chairman’s report , Andile Ngcaba highlights the beneficially disruptive effects that the flood of broadband infrastructure (international submarine, wireless and satellite infrastructure) will have on the African market.  In addition, new technology developments such as LTE, digital terrestrial broadcasting and social media will be making a significant impact on the African ICT landscape.  This growth continues to be driven the growth in mobile subscribers, now in excess of 600 million, but with an increasing shift towards data consumption. He concludes that the positive disruptive developments in the sector and the continued economic growth of the African economy bodes well for the future of ICTs and Convergence Partners.

In his CEO’s report, Brandon Doyle provides an overview of the successes and growth of Convergence Partners since its creation in 2006. The highlights of the first five years include investmenting in Dimension Data (Middle East and Africa), the Seacom submarine cable system, the New Dawn Satellite joint venture and FibreCo. In addition to the focus on unlocking further growth in the exisiting portfolio, Brandon foresees a positive future for Convergence Partners, especially in the development of pan-African communications infrastructure.

The report also details the significant corporate social investment activities that Convergence Partners and its investees have embarked upon.  Envir Fraser outlines how corporate social investment and giving back to society has been, and continues to be, an integral part of the ethos of the company, with the Convergence Partners’ Foundation serving as the primary vehicle for the group’s meaningful CSI activities.

Convergence_Partners_Annual Report