A group of local banks have committed to provide temporary liquidity and extended the maturity of R1.2-billion of debt that was due to be repaid last month, Cell C said.
Browsing: Zaf Mahomed
TechCentral sat down with Cell C’s CEO and chief financial officer to discuss the operator’s plan not only to pull itself back from the brink but to put itself on a sustainable financial footing.
Cell C reported a net loss after tax of more than R8-billion in the 12-month period ended 31 May 2019 as the mobile operator battles its own internal cost problems and a weak economy.
Cell C has appointed Zafar Mahomed as its new chief financial officer. This follows the short tenure of the previous CFO, Tyrone Soondarjee, who resigned in May after less than a year in the role.