Storyline
Blu Label's R4.9bn Cell C Loss
Timeline
- Sat, Aug 29LatestUnverified — not yet reviewed
Cell C Posts 57% Earnings Jump After Debt Restructuring
Cell C has reported a 57 percent jump in earnings alongside a reduction in outstanding debt, signalling a meaningful financial turnaround following its debt restructuring process. The results provide a first concrete profit signal from South Africa's most troubled telecoms operator since its restructuring was completed.
- Fri, Aug 28Unverified — not yet reviewed
Blu Label Clears Cell C Write-Down in Balance Sheet Recovery
Blu Label Unlimited has cleared the Cell C-related write-downs that had weighed on its balance sheet, marking a financial recovery point for one of South Africa's key fintech and airtime distribution businesses. The resolution follows the R4.9 billion write-down and full-year loss reported by the company on August 27.
- Thu, Aug 27Unverified — not yet reviewed
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.