It’s not just state-owned entities that are drowning in debt, Cell C has its own share of problems. This week, the mobile network operator confirmed that it defaulted on a R2.7-billion loan.
But technology experts say Cell C subscribers should only start worrying if they start experiencing network problems, which are unlikely at this stage.
Cell C currently has an estimated 17-million mobile subscribers in South Africa. The company issued a statement saying it suspended payments on its R9-billion debt, in a bid to improve liquidity.
It’s also trying to restructure its balance sheet. Cell C is currently cutting costs as part of a turnaround strategy.
In other news – Twitter roasts Shauwn Mkhize for her Outfit at #SomhaleWhiteWedding
Beware of Twitter! So every time when one wants to do something, they must make sure everything is super perfect to avoid drama with tweeps.