IFC Invests $25m To Boost Digital Access In Nigeria, Others

The International Finance Corporation has made a $25 million equity investment in convergence partners’ digital infrastructure fund.

The fund is being managed by Convergence Partners Africa, an investment management firm focused on the technology, media and telecom sectors in Africa. According to IFC, the Covid-19 pandemic has accelerated the adoption of digital technologies and the demand for digital infrastructure which are helping connect businesses with customers and suppliers, creating new channels to access health and education services, and enabling entrepreneurs. However, it has also exposed the digital divide in Africa.

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