While Convergence Partners aims to build a successful portfolio of assets and generate significant economic returns, it also has a strong social agenda. Increased communications penetration has a proven link to economic growth and enhances the lives of Africans. In addition to the developmental effect of its projects, Convergence Partners and several of its investees also contribute to relevant unpliftment initiatives via the not-for-profit Convergence Partners Foundations.
Convergence Partners Foundation
The Foundation was established in 2007 as the co-ordinator of CSI spend by Convergence Partners as well as certain Convergence Partners investees. The Foundation is also a co-investor with Convergence Partners in a number of its transactions. The Foundation explores mission-critical social development work in the TMT sector, specifically in education – in particular, the development of new talent and skills in technology sector (where Africa has a critical need) as well as in using technology to improve access to education of a high standard.
The Foundation has already contributed more than R4 million to its projects, including:
- Bursary Schemes: 9 tertiary education bursaries to date
- Digital Refurbishment Institute of SA (DRISA): Funding of rollout of computers to Eastern Cape Schools.
- E-Learning: 25 schools provided with computers with e-learning systems in conjunction with Dimension Data.
- Foundation for Safer South Africa (FSSA): Supported Youthzones with connectivity solutions and new school computer centre.
- Heartlines: Financial support and strategic input into For Good Social Networking Platform.
- School Construction: Fencing and construction of 6 classrooms and a library at Tshwaragano Primary School in Thokoza.
- Student Sponsorship Programme: Executives Mentoring and Sponsoring Secondary School Learners.