Convergence Partners, Google and the IFC commit $100 million to pan-African wholesale broadband provider CSquared
Andile Ngcaba, Chairman, Convergence Partners Convergence Partners recently signed an agreement with Google, the International Finance Corporation (IFC) and Mitsui & Co., Ltd. (Mitsui) to invest in CSquared, a broadband infrastructure company headquartered in Nairobi, Kenya. The partners have agreed to invest up to £100 million for the existing metro fiber network operations in Uganda and Ghana, plus new markets in the future.
Convergence Partners’ investment will be housed in Convergence Partners Communications Infrastructure Fund (CPCIF), the only infrastructure fund dedicated solely to information and communications technology in Africa. The transaction is subject to customary closing conditions. CSquared, initially started by Google as Project Link, is a carrier-neutral open access, wholesale provider of high-speed metro fiber throughout sub-Saharan Africa.
It currently has high quality fiber networks in Uganda (800kms in Kampala and Entebbe) and Ghana (840kms in Accra, Tema and Kumasi).