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Convergence Partners exits investment in Dimension Data
Convergence Partners Investments - an investment firm focused on the TMT sector in Africa - first invested in specialist IT services and solutions company, Dimension Data Middle East & Africa (DiData) in 2004 as part of the original DiData B-BBEE transaction and remained invested until June 2017.
The contractual investment term ended in September 2016 and the companies negotiated a consensual exit to the investment.
Convergence Partners has now fully exited its shareholding in DiData and Andile Ngcaba has stepped down from the various group boards on which he served and as executive chairman of DiData.
Convergence Partners continues to invest in TMT companies across sub-Saharan Africa that it believes will deliver enhanced returns for investors while underpinning continental development.
