Convergence Partners Investments has finalised its disinvestment from Dimension Data Middle East and Africa, and Andile Ngcaba has stepped down as executive chairman.
Convergence Partners Investments first invested in Dimension Data 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 Convergence Partners and Dimension Data negotiated a consensual exit to the investment.
Convergence Partners has now fully exited its shareholding in Dimension Data. Ngcaba has stepped down from the various group boards on which he served, including the executive chairmanship of Dimension Data.
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.
technology offerings to the people of Africa.