Kuben Pillay is the new chairman of Cell C, while Larry Nestadt will serve as his deputy, the mobile operator said on Monday. The appointments follow the recapitalisation of Cell C and the purchase by
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Blue Label Telecoms said on Monday that it has wrapped up its acquisition of 45% of Cell C for R5.5bn, concluding a restructuring deal that has resulted in the mobile operator’s debt being reduced from R23bn to less than R6bn
Net1 UEPS Technologies’ largest shareholders, International Finance Corp and Allan Gray, have welcomed the company’s decision to terminate the consulting contract of former CEO Serge Belamant, which would
Net1 UEPS Technologies, the group whose subsidiary, Cash Paymaster Services, controversially manages South Africa’s welfare payments system, has terminated the services of its former CEO, Serge Belamant, it said on
The Black Sash Trust, a civil rights group, has asked South Africa’s supreme court of appeal to let it seek to overturn a high court ruling allowing Net1 UEPS Technologies to continue making deductions from
The South African Social Security Agency has scrapped the advisory groups that were set up to plan for the future of the country’s more than R140bn of annual welfare payments. Letters were sent to the so-called
Cell C is seeking to cut its debt by 73% as part of a deal that will help South Africa’s third largest mobile phone operator sell a stake to Blue Label Telecoms while retaining its operating licence, according to two people
Blue Label Telecoms is pushing ahead with a plan to recapitalise Cell C in terms of which it will become a 45% shareholder, through subsidiary The Prepaid Company, in South Africa’s third largest mobile operator. The JSE-listed company said
The constitutional court has ordered the social development department and the South African Social Security Agency (Sassa) to begin an investigation over whether minister Bathabile Dlamini should be held personally
Net1 UEPS Technologies’ new CEO, Herman Kotze, said a severance payment to the company’s founder and former CEO who was criticised by the company’s biggest shareholders was justified because they forced him into early retirement