Net1, the company that used to manage the payment of social grants in South Africa, has appointed former Telkom and Eskom chairman Jabu Mabuza as chairman-designate of its board.
Browsing: Cell C
One of the more surprising aspects of communications regulator Icasa’s emergency allocation of temporary spectrum to operators this week is that they’ve been given access to the digital dividend bands.
Cell C is conspicuous by its absence from Icasa’s announcement on Friday of the companies that have been given access to temporary spectrum during the Covid-19 crisis. That is by design, it said.
Cell C has appointed Simo Mkhize as chief commercial officer with immediate effect. Mkhize has 23 years of experience in the telecommunications industry, which includes five years at Cell C previously.
Cell C has made what it calls a “voluntary offer” to the Competition Commission over data prices, which will see prepaid customers getting free “lifeline” data, albeit very limited.
Financially distressed mobile operator Cell C said the second half of its 2019 financial year showed a solid turnaround in its fortunes, with a R1-billion improvement in Ebitda.
African Rainbow Capital Investments has attached a remarkable R13.1-billion valuation to Rain, giving it a value 40% above Telkom’s current market capitalisation.
MTN Group shares fell more than 12% on Monday morning in Johannesburg, to their lowest levels in nearly 14 years, as investors digested the news of a shock fall in oil prices overnight.
Though there is “significant doubt” over Cell C’s ability to continue as a going concern, the mobile operator’s biggest shareholder, Blue Label Telecoms, said on Friday that “management believes it is more likely than not” that the company will survive.
While big technology shares in the US have continued to hit new highs in 2020 – among them, Microsoft, Apple, Amazon, Google and Nvidia – JSE-listed IT companies have had a torrid start to the new decade.