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.
AfricaCom, the Continent’s premier communications event, took place in Cape Town on 10 and 11 November. Chairman Andile Ngcaba was a featured speaker on day 1, highlighting the opportunities & challenges facing ICT investors in Africa, and the Convergence Partners Group was proud to unveil its new stand (see pictures attached) – the first time we have exhibited at the event. The rationale behind this was to showcase the many young and exciting companies in the Group and give them access to the burgeoning African communications market, as represented by over 5000 attendees over the two days.
The Convergence Partners stand was a hive of activity for the duration of the event (especially when our gorgeous ladies served up some great cocktails at the end of day 1). Companies in the Convergence Partners stand that were formally exhibiting at AfricaCom included Seacom, Convergence Wireless Networks (comprising WiA and Intra), Intelsat New Dawn Satellite Project, Plessey, Comsol, Integrat, Skillpod Media, Bloodhound, Inala, Convergence Border Management Solutions, as well as the Convergence Partners Foundation.
AfircaCom also coincided with the media launch of Convergence Partners’ latest project, FibreCo (see below blog).
On 15 July 2010, Nippon Telegraph and Telephone Corporation (“NTT”) Dimension Data Holdings plc (“Dimension Data” or “DiData”) announced that they have reached agreement on the terms of a cash offer to be made by NTT for 100% of Dimension Data. The offer, totalling approximately GBP 2.1 billion (R24.4 billion), was unanimously recommended by both Boards of Directors. Andile Ngcaba, Chairman of Dimension Data’s Middle East and Africa business (“DDMEA”), as well as of its minority shareholder Convergence Partners, is excited about the deal and how its positions DiData in his region. “With access to the resources, products and R&D of the NTT Group, DDMEA is better positioned than ever to grow its presence and capitalise on new and fast growing market opportunities, such as cloud computing. The deal is great for the country and the company”.