JOHANNESBURG – Mobile operator MTN has indicated that it would likely help troubled Cell C where it made economic sense.
MTN SA chief executive Godfrey Motsa said if Cell C failed, it would not only affect the company's thousands of employees but others who are dependent on it. “It’s not MTN’s responsibility to save Cell C, but surely we can do something from our side,” he said. “But it has to be in the right economics,” Motsa said.
“If the company were to fail, it would impact the sector more broadly, including suppliers and tax collection. “The impact on the country would be huge. If Cell C can be saved it is good for Cell C, good for the sector and good for the country. We cannot return the country to growth by folding competitors.”
Cell C, South Africa's third-biggest mobile operator is grappling with an R9billion debt and has lost market share to its peers MTN and Vodacom. Cell C’s 2011 tower agreements and other risk-based pricing on certain contracts have created significant financial drag on the business.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WATCH: President Ramaphosa open cell phone manufacturing plant - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.President Cyril Ramaposa on Thursday opens the first Cell phone manufacturing plant in South Africa. I hope no one is making President CyrilRamaphosa a fool this time. Hope the plant manufacture components not assembling parts from China and Korea Great stuff PresidencyZA CyrilRamaphosa Rwanda has done that already
Source: SABC News Online - 🏆 32. / 51 Read more »
Low prices are not pulling shoppers into stores anymore, value for money is | IOL Business ReportShoppers have become more savvy and critical of retail environments and despite being hyper-aware of price changes, they also love quality products. busrep
Source: IOL - 🏆 46. / 51 Read more »
Tito Mboweni may present mid-term budget earlier than planned | IOL Business ReportFinance minister Tito Mboweni said on Thursday that he was looking at presenting his Medium Term Budget Policy Statement (MTBPS) at an earlier date than the announced October 30. busrep busrep What about the nudes!? Has he paid the R100k ransom busrep Why is he rushing to give Ass_kom more moola? captured
Source: IOL - 🏆 46. / 51 Read more »
Sekunjalo to strengthen black auditor appointments | IOL Business ReportSekunjalo is aware that confidential information surrounding the mutual parting of ways between The Sekunjalo Group (Sekunjalo) ...
Source: IOL - 🏆 46. / 51 Read more »
Eskom burns R6 billion diesel as it struggles with load shedding | IOL Business ReportEskom warned the country to brace for more load shedding in the days ahead as it grapples with repairs to boiler tube leaks at its coal-fired power stations, while it scrambles to secure enough diesel to keep the lights on. busrep busrep I thought it was a conveyor belt issue ....? You sure it is not show of force to get more money, because that is what it seems to be. TheStar_news busrep Gross inefficiency. And we rely on the government to have our best interests at heart? Daft, I call it. 😊
Source: IOL - 🏆 46. / 51 Read more »