Status: Approved investment
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FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more

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The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.

Who is our customer

Convergence Partners was founded in 2006 and invests as value-adding partners into private equity opportunities in technology and digital infrastructure sectors across sub-Saharan Africa. They have an asset base in excess of $400 million across Southern, East and West Africa through three funds.

What is our funding objective?

Convergence aims to make growth-capital investments in a diversified portfolio of mid-sized Sub-Saharan companies seeking growth, or brownfield / greenfield investments in the digital infrastructure space. By investing in the Convergence Partners Digital Infrastructure Fund, FMO can contribute to the economic growth and private equity market development across the African continent.

Why do we fund this investment?

This investment fits FMO’s strategy, deepening a relationship with an existing partner in African private equity investing, and contributes further to FMO’s ambition of being a preferred partner for growth in emerging markets. The investment is also expected to enhance digital inclusion across the continent.

What is the Environmental and Social categorization rationale?

Based on the risk profile of the pipeline companies, the preliminary E&S categorization is B. Convergence has shown a solid commitment towards E&S and has a strong environment and social management system in place as well as an experienced and dedicated ESG manager in its team. Convergence conducts strong ESG due diligence during its investment process and develops E&S action plans for its portfolio companies.

Website customer/investment
Infrastructure, Manufacturing and Services
Publication date
Effective date
Total FMO financing
USD 30.00 MLN
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)