Blu Label Books R4.9 Billion Cell C Write-Down, Swinging to Full-Year Loss

Blu Label Unlimited has recorded a R4.9 billion write-down on its Cell C investment, swinging the company to a full-year loss in what represents a major financial reckoning for one of South Africa's most troubled telecoms investments. Separately, Blu Label says MTN is targeting the Capitec airtime distribution channel that represents a key revenue stream for the group, while the company's prepaid electricity business — flowing R46 billion annually — faces shrinking commissions.