Mineworkers Provident Fund invests $20m in private-equity digitisation play

2022-01-27 10:21:00 PM

Mineworkers Provident Fund invests $20m in private-equity digitisation play

Mineworkers Provident Fund invests $20m in private-equity digitisation play

The MWPF is the first African investor in Convergence Partners’ digital infrastructure fund

Garth TheunissenThe Mineworkers Provident Fund (MWPF), which oversees about R30bn on behalf of its 75,000 members, has invested $20m (R305m) in Convergence Partners’ digital infrastructure fund, a private-equity vehicle that in turn invests in technology aimed at enabling Africa participation in the digital economy.

Convergence Partners, which was founded in 2006 to invest in the Sub-Saharan African technology sector, is targeting a total capital raise of $250m for its digital infrastructure fund, which announced a first close of $120m in July and currently has about $190m available for deployment. The MWPF is the first African investor to allocate capital to the dollar-denominated digital infrastructure fund, though it joins a number of development finance institutions that include UK development financier CDC Group and Proparco, the private sector arm of the French development agency (AFD)...

Read more: Business Day »

Call for Godongwana to resign

The Not In My Name movement wants Finance Minister Enoch Godongwana to vacate his office. Read more >>

PETER BRUCE: If the guys at the wheel don’t understand their jobs, expect a crashThe government is doing everything to ensure businesses don't invest in SA It really must be tough for bruce, Problem is the guys at the wheel are drunk, drunk with power. So a crash is inevitable, and it's coming soon. He CyrilRamaphosa failed to mention the job losses resulting from the July 2021 attempted coup/ insurrection

Lawsuits no bar to alternative classes, Allianz head signalsReal estate, infrastructure and private debt highlighted as main growth areas

By the numbers | Covax delivers 1-billion vaccines to poorer nations$10bn in donor funds was secured to pay for the vaccines.

ANC’s plan to neuter party funding law raises red flagsThe move is tantamount to repealing the recently promulgated Political Party Funding Act

Vukile Property’s Spanish subsidiary secures strategic stake in peer groupThe 21.7% holding in Lar España Real Estate Socimi will be funded in cash and shares

Former Malawian International Esa KanyendaFormer Malawian international Esau Kanyenda feels there is no better time for Gabadinho Mhango to make a move to Europe, following an impressive Africa Cup of Nations campaign with Malawi. SLSiya Read more: There is no greater joy than having financial stability and a life free of debts, that’s why I keep tweeting about GregsonLillian has been a pleasure collaborating with you...there is no other way I can show my appreciation other than tweeting the good deed you have done. Better to pay the price of discipline than to pay the price of regret tomorrow and make the right decision to join the winning team today Robert_BAR1 That's true,he showed the world what is Gabadinho Mhango.

27 January 2022 - 16:12 Garth Theunissen The Mineworkers Provident Fund (MWPF), which oversees about R30bn on behalf of its 75,000 members, has invested $20m (R305m) in Convergence Partners’ digital infrastructure fund, a private-equity vehicle that in turn invests in technology aimed at enabling Africa participation in the digital economy.26 January 2022 - 18:57 Peter Bruce It’s desperate watching an accident happen.25 January 2022 - 17:14 Stephan Kahl The logo of insurer Allianz on the company building near Paris, France.Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.

Convergence Partners, which was founded in 2006 to invest in the Sub-Saharan African technology sector, is targeting a total capital raise of $250m for its digital infrastructure fund, which announced a first close of $120m in July and currently has about $190m available for deployment. The MWPF is the first African investor to allocate capital to the dollar-denominated digital infrastructure fund, though it joins a number of development finance institutions that include UK development financier CDC Group and Proparco, the private sector arm of the French development agency (AFD). Everything goes quiet.. But in a sign that they have not dented the firm’s appetite for alternatives, he highlighted real estate, infrastructure and private debt as main areas of growth for the owner of Pacific Investment Management and Allianz Global Investors.. All you see is a cloud of dust and then the wreckage. B Premium This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily. So it was at the weekend when President Cyril Ramaphosa wrapped up a busy few ANC days — first a meeting of the national executive committee and then a wider lekgotla that included its alliance partners, the communists and the unions.” Allianz, whose investment units oversee about €2. Already subscribed? Simply sign in below. ..