Telecom
Convergence Partner Secures $120M Fund to Drive Digital Inclusion in Africa
Convergence Partners, a private equity investor focused on the technology sector across sub-Saharan Africa, announced the successful first close of its third fund, the Convergence Partners Digital Infrastructure Fund (CPDIF) at US$120 million.
The fund is targeting a final size of US$250 million. Now with more than US$400m of capital under management, Convergence Partners remains the largest private equity investor dedicated to digital infrastructure in Africa.
Investors in CPDIF are leading institutions that continue to support African growth such as the CDC Group (the UK’s development finance institution), the United States International Development Finance Corporation (DFC), the European Investment Bank (EIB), the International Finance Corporation (IFC) and Proparco (the private sector arm of the Agence Française de Développement – AFD Group).
CPDIF investments will be driven by the infrastructure needs of the emerging growth themes in the digital infrastructure ecosystem, specifically fibre, wireless, data centres, towers etc., as well as 5G, Cloud, Internet of Things (IoT), Artificial Intelligence (AI), fintech and network virtualisation. CPDIF’s first investment is in Ctrack, a transaction that was announced earlier in the year.
As a data analytics business servicing the fleet management and insurance industries, the business sits at the intersection of AI and IoT with all its solutions being cloud delivered.
The fund also has a strong and measurable impact objective and, via its participation in the build out of Africa’s digital infrastructure, will boost entrepreneurship, innovation, skills development and job creation though massively boosting access to the internet and all the critical digital tools it offers.
Africa remains by far the most underserved region in terms of broadband and digital technology access. Despite the advances in the rollout of digital infrastructure on the Continent, fixed broadband penetration in sub-Saharan Africa still lags far behind at about 7% of the population.
There is a massive investment opportunity that still exists to address digital inclusion with the World Bank estimating that more than US$100 billion of capital is required to bring sub-Saharan Africa to acceptable levels of digital access by 2030.
Says Brandon Doyle CEO of Convergence Partners, “we are delighted to have achieved this milestone particularly given the headwinds in African PE fundraising generally, and the impact of the Covid pandemic on business activity, over the past 12 months.
“We are very pleased with the level of support from both repeat and new investors and believe this reflects our solid track record and the opportunity CPDIF presents at this crucial time in both a tech and African context.”
CPDIF is a continuation of the strategy that has been successfully implemented by Convergence Partners since inception in 2006 across its funds under management. In the past 15 years, Convergence Partners has invested in submarine cable systems, geostationary satellites, terrestrial long-haul, metro and access fibre, wireless networks, data centres, as well as service provision delivered by these networks such as enterprise connectivity, SD-WAN, fintech & healthtech solutions, data switching and more.
Andile Ngcaba, Chairman of Convergence Partners, added, “in the past 20 years, we have witnessed the exponential growth of internet penetration on the African continent. Internet penetration in sub-Saharan Africa alone has grown tenfold, compared to the threefold increase the rest of the world has seen. As Convergence Partners, we pride ourselves on contributing to this growth through our numerous communication infrastructure investments across the Continent.
“However, the COVID-19 pandemic has shown us that there is still much work to drive digital inclusion. Today, Africa is experiencing the highest growth in international internet bandwidth compared to any other region in the world.
“As we embark on this journey as CPDIF, the next twelve years will be spent continuing to build on our original vision of ubiquitous pan-African communications. As the African Continental Free Trade Area (AfCFTA) commences in the same year, we embark on the next step of our journey as Convergence Partners.
“We believe that AfCFTA will benefit immensely from the availability of digital infrastructure. Our greatest strength is our knowledge of technology, investments, and deep understanding of the African market and cultures.”
The need for Nigeria to think outside the box in its need to drive towards global relevance with innovations and scientific developments will be on the front burner at the NITRA Innovative & Scientific Conference scheduled to hold on Thursday July 23, 2026 in Ikeja, Lagos.
NITRA
The Nigerian Communications Commission (NCC) will lead other delegates to discuss and take far-reaching decisions at the event, which has its theme as “Bridging Nigeria’s Digital Divide With Scientific Innovation”.
Other companies that have indicated interest in partnering with NITRA include mobile communications company, Tecno; Africa’s premier end-to-end AI solutions company, Hyperspace; and telecommunications data infrastructure company, Digital Realty.
Speaking on the proposed event, the Chairman, Nigeria Information Technology Reporters Association (NITRA), Chike Onwuegbuchi noted that the event will seek to create a platform for government and private organisations to deliberate on policies around scientific innovations in Nigeria, challenges, place of indigenous and foreign collaboration, roles of each stakeholder, and grassroots development in that regard, among others.
According to him: “The Federal government, with series of programmes and partnerships, has established the urgent need to create an ecosystem that thrives on scientific innovation, breeding institutions and individuals with a target of placing the country at the fore-front of Next-Gen development.
It is a known fact that digital and scientific innovations are crucial, not only to the survivability of a nation, but also to the sustainability of its growth and development, with significant effect on economic strength, global image, defense and security, government capabilities to function, and public health and safety, communication and digital footprint, among others.
The federal government is actively driving scientific innovation to foster economic diversification and build a $1 trillion economy by 2030. Efforts are heavily focused on commercializing research, establishing massive research funds, and funding strategic infrastructure, particularly in technology, biotechnology, and healthcare. Core government initiatives and policies include the newly instituted National Research and Innovation Development Fund (NRIDF), which aims to mobilize about $500 million annually to support research and the commercialization of scientific outputs; and the Nigeria Genomic City, a multi-ministerial initiative aimed at transforming Nigeria into a leading hub for genomics, precision medicine, and biotechnology. It is designed to protect indigenous data, stimulate artificial intelligence in health, and develop a highly skilled scientific workforce.
According to the General Secretary of NITRA, Mr. Chidiebere Nwankwo, the forum will also be a vehicle to propagating the views of decision makers to the public, thereby furthering the cause of public awareness and information dissemination on the topic.
The focus, he said will be on how Nigeria can sustain digital innovative growth and scientific development in Nigeria
Concerns over network reliability and its impact on Nigeria’s growing creator economy took centre stage at MTN Nigeria’s Data on Trial event, where content creator and streamer, Jarvis, challenged telecommunications operators to improve connectivity for digital creators.
Speaking during the event, Jarvis asked whether there were locations in Nigeria where uninterrupted internet connectivity could support real-life (IRL) streaming without network disruptions.
“Are there places where there is no breakage when streaming IRL?” she asked.
Her question highlighted the challenges faced by content creators who depend on stable internet services for live streaming, content uploads and real-time engagement with audiences.
Responding, MTN Nigeria’s Chief Technical Officer, Mr Yahaya Ibrahim, said network performance depends on several factors, including location, network coverage, device capability and the number of users connected to a particular base station.
He noted that operators continue to invest in expanding network capacity to meet the growing demand for data services.
Earlier, MTN’s General Manager, Network Performance and Quality Assurance, Mr Michael Ndukwe, explained the evolution of mobile network technology in Nigeria, from first-generation (1G) services to the current fifth-generation (5G) technology.
According to him, each phase of technological advancement has significantly increased network capacity and enabled new digital services.
Ndukwe cited Nigerian Communications Commission (NCC) data showing that Nigerians consumed about 13.2 million terabytes of data in 2025.
He added that data usage reached approximately 4.06 million terabytes in the first quarter of 2026, reflecting the country’s increasing reliance on digital platforms and online services.
According to him, the growth is being driven by wider adoption of 4G and 5G networks, increased smartphone penetration, the proliferation of smart devices and expanding use of social media platforms.
Participants at the event noted that as more Nigerians build businesses and careers around digital content, access to reliable and high-speed internet has become critical to sustaining the country’s digital economy and creator ecosystem.
In an era where customer complaints about data consumption often play out on social media, MTN Nigeria took an unusual step. Rather than issue another statement, the company opened its doors and invited critics, customers, influencers and journalists to interrogate its operations at the Data On Trial in Lagos.
Dr Karl Toriola, MTN Nigeria
The session offered a rare glimpse into the realities behind Nigeria’s digital economy. MTN Nigeria CEO, Dr Karl Toriola, acknowledged public concerns and encouraged participants to ask difficult questions. “Give it to us as hard as you can. Ask us the most difficult questions, don’t hold back,” he said. The company used the platform to explain how factors such as automatic cloud backups, video streaming and app settings contribute significantly to data consumption, issues many users often overlook.
Beyond addressing consumer concerns, MTN shed light on the scale of investment required to keep Nigeria connected. Toriola disclosed that the company invested close to ₦1 trillion in network infrastructure last year and plans to exceed that figure this year. He explained that these investments support network expansion, improved capacity and service delivery for millions of Nigerians across the country.
The session also highlighted MTN’s commitment to accountability. Company executives explained that MTN’s billing systems are independently audited and reviewed by regulators to ensure accuracy and fairness. “What we are saying authoritatively is we will never deliberately shortchange you on the consumption of your data,” Toriola stated, reaffirming the company’s position on customer trust and transparency.
More than a defence of its network, Data On Trial reflected a company willing to engage openly with the people it serves. At a time when digital connectivity has become central to everyday life, MTN’s decision to answer tough questions in public signalled a broader commitment to transparency, customer education and continuous investment in Nigeria’s digital future.
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