Close Menu
TechCentralTechCentral

    Subscribe to the newsletter

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    Facebook X (Twitter) YouTube LinkedIn
    WhatsApp Facebook X (Twitter) LinkedIn YouTube
    TechCentralTechCentral
    • News

      Jaltech backs solar firm Wetility in R500-million capital raise

      18 June 2025

      MTN CEO edges Vodacom rival in pay stakes – but just barely

      18 June 2025

      Stolen phone? Samsung now buys you an hour to lock it down

      18 June 2025

      New MD for Dell South Africa

      18 June 2025

      How a dowdy database maker became an investor darling

      18 June 2025
    • World

      Trump Mobile dials into politics, profit and patriarchy

      17 June 2025

      Samsung plots health data hub to link users and doctors in real time

      17 June 2025

      Beijing’s chip champions blacklisted by Taiwan

      16 June 2025

      China is behind in AI chips – but for how much longer?

      13 June 2025

      Yahoo tries to make its mail service relevant again

      13 June 2025
    • In-depth

      Meta bets $72-billion on AI – and investors love it

      17 June 2025

      MultiChoice may unbundle SuperSport from DStv

      12 June 2025

      Grok promised bias-free chat. Then came the edits

      2 June 2025

      Digital fortress: We go inside JB5, Teraco’s giant new AI-ready data centre

      30 May 2025

      Sam Altman and Jony Ive’s big bet to out-Apple Apple

      22 May 2025
    • TCS

      TCS+ | AfriGIS’s Helen Hulett on how tech can help resolve South Africa’s water crisis

      18 June 2025

      TechCentral Nexus S0E2: South Africa’s digital battlefield

      16 June 2025

      TechCentral Nexus S0E1: Starlink, BEE and a new leader at Vodacom

      8 June 2025

      TCS+ | The future of mobile money, with MTN’s Kagiso Mothibi

      6 June 2025

      TCS+ | AI is more than hype: Workday execs unpack real human impact

      4 June 2025
    • Opinion

      South Africa pioneered drone laws a decade ago – now it must catch up

      17 June 2025

      AI and the future of ICT distribution

      16 June 2025

      Singapore soared – why can’t we? Lessons South Africa refuses to learn

      13 June 2025

      Beyond the box: why IT distribution depends on real partnerships

      2 June 2025

      South Africa’s next crisis? Being offline in an AI-driven world

      2 June 2025
    • Company Hubs
      • Africa Data Centres
      • AfriGIS
      • Altron Digital Business
      • Altron Document Solutions
      • Altron Group
      • Arctic Wolf
      • AvertITD
      • Braintree
      • CallMiner
      • CYBER1 Solutions
      • Digicloud Africa
      • Digimune
      • Domains.co.za
      • ESET
      • Euphoria Telecom
      • Incredible Business
      • iONLINE
      • Iris Network Systems
      • LSD Open
      • NEC XON
      • Network Platforms
      • Next DLP
      • Ovations
      • Paracon
      • Paratus
      • Q-KON
      • SevenC
      • SkyWire
      • Solid8 Technologies
      • Telit Cinterion
      • Tenable
      • Vertiv
      • Videri Digital
      • Wipro
      • Workday
    • Sections
      • AI and machine learning
      • Banking
      • Broadcasting and Media
      • Cloud services
      • Contact centres and CX
      • Cryptocurrencies
      • Education and skills
      • Electronics and hardware
      • Energy and sustainability
      • Enterprise software
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Lifestyle
      • Motoring
      • Public sector
      • Retail and e-commerce
      • Science
      • SMEs and start-ups
      • Social media
      • Talent and leadership
      • Telecoms
    • Events
    • Advertise
    TechCentralTechCentral
    Home » News » Cell C renews Sharks sponsorship despite financial woes

    Cell C renews Sharks sponsorship despite financial woes

    By Duncan McLeod29 January 2020
    Twitter LinkedIn Facebook WhatsApp Email Telegram Copy Link
    News Alerts
    WhatsApp

    It’s not all doom and gloom at Cell C, apparently. The debt-laden mobile operator has managed to scrounge up the cash to renew its sponsorship of Sharks Rugby.

    It’s an extension of the partnership with the KwaZulu-Natal rugby franchise which has been in place for the past six years. It will run for another three years, the company said.

    Cell C has not disclosed the value of the deal, but it comes as the company labours under more than R9-billion of debt and it seeks a recapitalisation from a range of investors, including the Buffet Consortium.

    The sponsorship renewal comes just a day after news that Cell C defaulted on the payment of interest on a $184-million loan

    The sponsorship renewal comes just a day after news that Cell C defaulted on the payment of interest on a US$184-million (R2.7-billion) loan, which was due in December 2019, along with interest and capital repayments related to bilateral loan facilities with Nedbank, China Development Bank, the Development Bank of Southern Africa and the Industrial and Commercial Bank of China.

    “Currently, none of the bilateral loan facilities has been accelerated as note holders are aware and support that Cell C is committed to resolving the situation by agreeing to restructuring terms with its lenders while it also continues to work proactively with all stakeholders to improve its liquidity, debt profile and long-term competitiveness,” Cell C’s largest shareholder, Blue Label Telecoms, said in a statement.

    ‘Exceptionally valuable’

    “Our customers and employees can look forward to lots of engagement opportunities throughout the sponsorship as we use it to drive key business objectives into the next three years,” the company said in a statement about the Sharks renewal deal.

    “Our sponsorship over the last six years has proven exceptionally valuable as a brand engagement platform for our customers as we endeavour to connect with them through their passion while driving key brand and business objectives,” said Cell C CEO Douglas Craigie Stevenson.

    “Sponsorships help us to drive brand awareness, sales, engage customers and to drive brand love.”  — © 2020 NewsCentral Media



    Buffet Consortium Cell C Cell C Sharks Douglas Craigie Stevenson The Sharks top
    Subscribe to TechCentral Subscribe to TechCentral
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email Copy Link
    Previous ArticleDonald Trump is losing his war on Huawei
    Next Article Master Builders Print Studio expands with Xerox

    Related Posts

    MVNO boom is reshaping South Africa’s mobile market

    12 June 2025

    TCS | Nomvuyiso Batyi on Starlink, BEE reform and spectrum

    6 June 2025

    Mr Price Cellular gaining ground in competitive telecoms market

    6 June 2025
    Company News

    Disrupt first, ask questions later – the uncomfortable truth about incident response

    18 June 2025

    Sage brings together HR leaders to explore the future of payroll and people management

    18 June 2025

    Altron: a brand journey, a birthday celebration and a bet on Joburg’s future

    17 June 2025
    Opinion

    South Africa pioneered drone laws a decade ago – now it must catch up

    17 June 2025

    AI and the future of ICT distribution

    16 June 2025

    Singapore soared – why can’t we? Lessons South Africa refuses to learn

    13 June 2025

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2025 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.