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Convergence Partners top-up their investment in ChannelVAS, invested an additional R76 million

The Andile Ncgaba controlled company- Specialist ICT investment firm Convergence Partners recently confirmed R76 million further funding for its stake in fintech ChannelVAS (CVAS).

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Convergence Partners top-up their investment in ChannelVAS, invested an additional R76 million

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  1. Convergence Partners top-up their investment in ChannelVAS, invested an additional R76 million

  2. The Andile Ncgabacontrolled company- Specialist ICT investment firm Convergence Partners recently confirmed R76 million further funding for its stake in fintechChannelVAS (CVAS). • Furthermore, the company told the resources that they exercised preferential and exclusive rights to obtain the amount as a result of an intra-consortium rebalancing of the holdings of another member of the Ethos consortium through which Convergence Partners is partially invested.

  3. CVAS is a fintech organization that delivers mobile financial services across Sub-Saharan Africa and beyond. Convergence Partners in one of their statements told that the business continues to intensify its position as a global leader in airtime credit solutions to its partner mobile network operators while creating out a pipeline of fascinating new scalable products.

  4. Besides, Brandon Doyle, CEO of Convergence Partners, comments that they are very delighted to have been able to increase the amount of investment in ChannelVAS. He also said that it’s a business that they feel especially excited about as it ticks several boxes for us as an investor; the achievements that a business makes indicates the capacity of digital data and AI technologies to provide significant and robust solutions to meet the real financial needs of underserved customers in the markets it serves.

  5. Andile Ncgaba, a top-notch South African business and the former board chairman of information technology has also been in news for a long time regarding his several million-rand discrimination litigations against the company Dimension Data.

  6. The businessman was the company's executive chairperson for 12 years and claims to have discovered that he was being paid less than his white colleagues while working for the company. • According to Ngcaba, equal pay is part of human rights which is mentioned in the constitution. He further said that he will not take this lying down as fairness, non-discrimination in the workplace is what the International LabourOrganisation (ILO) is all about.

  7. Thanks

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