Convergence Partners has announced that its African digital service provider platform, Inq Holdings Limited, has acquired Vodacom Business Africa’s operations in Nigeria, Zambia, and Cote d’Ivoire.
It also plans to acquire the operations in Cameroon pending regulatory approvals.
“This represents a further milestone in our journey to create a group serving the enterprise community across sub-Saharan Africa with a uniform high quality of service and consistent product offering,” said Convergence Partners CEO Brandon Doyle.
Convergence Partners said this transaction will grow Inq’s regional footprint as an enterprise solutions provider to 13 cities in seven African countries.
The countries in which it already has operations are Botswana, Malawi, and Mozambique.
Convergence Partners said that under the Inq banner, it will embark on the next phase of its plans to build “a unified pan-African cloud and digital service provider.”
It plans to bring to market a suite of next-generation technology solutions in the fields of Edge, AI, NFV, and Cloud.
“Through Inq, we are able to deliver intelligent connectivity through seamless delivery of cloud and digital services and digital technologies to our clients,” said Convergence Partners chairman and Inq executive chairman Andile Ngcaba.
“As the global thinking is going through a reset because of COVID-19, Inq is ready to provide business continuity to our global and continental and local clients.”
Vodacom Group results
The news that Vodacom has sold these assets follows the company releasing its preliminary results earlier today for the year ended 31 March 2020.
According to these results, Vodacom has seen a 4.8% increase in group revenue, while group service revenue growth is up by 5%.
Its South African business service revenue grew by 2.3%, while international operations saw service revenue growth of 12.5%.
“The past year has been characterised by strong customer growth – we now connect 116 million customers across the group, including Safaricom – and the benefits of prudent portfolio diversification,” said Joosub.
