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    Signature(s)

    Amount
    € 19,251,501.62
    Countries
    Sector(s)
    Regional - Africa : € 19,251,501.62
    Services : € 19,251,501.62
    Signature date(s)
    18/12/2012 : € 19,251,501.62

    Summary sheet

    Release date
    16 February 2012
    Status
    Reference
    Signed | 18/12/2012
    20110209
    Project name
    Promoter - financial intermediary
    CONVERGENCE PARTNERS COMMUNICATIONS INFRASTRUCTURE FUND
    Convergence Partners Management
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 19 million
    EUR 231 million
    Location
    Sector(s)
    Description
    Objectives

    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.

    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.

    Environmental aspects
    Procurement

    The Fund’s operational guidelines provide for environmental and social due diligence of investee companies according to guidelines acceptable to the Bank.

    Not applicable.

    Comments

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Documents

    Environmental and Social Data Sheet (ESDS) - CONVERGENCE ICT FUND
    Publication Date
    22 Apr 2016
    Document language
    Main Topic
    Lending
    Document Number
    66008557
    Document Focus
    Environmental Information
    Project Number
    20110209
    Sector(s)
    Countries
    Publicly available
    Download now

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