The company is stepping up its efforts to gain market share from market leaders Vodacom and MTN, and is reportedly setting a strong pricing strategy to gain new customers.
Cell C, South Africa’s third-largest operator, has asked its bondholders to delay repayments due in July, worth approximately €77.4 million, by three years.
Speaking to Reuters, the company’s CFO Robert Pasley said: “I have better things to do with my capital than use it to repay debt at the moment, when I really need all the resources available to me to continue to invest in network infrastructure.”
Pasley said he plans to budget $219.2 million on network investments this year and the same amount next year.
