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The telecommunications operator has reported a poor set of interim results for the six months to end-September 2022. The telecommunications operator, recently the subject of a now-aborted takeover attempt by rival MTN Group, has reported a poor set of interim results for the six months to end-September 2022. It has also revised its guidance to...

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Telkom on Monday warned investors that its headline earnings per share will slump by as much as 55% year on year when it reports results for the six months to end-September 2022 later this month. Both basic and headline EPS will crash by between 45% and 55%, the company said in a trading statement. Telkom blamed...

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Airtel Africa has acknowledged that its sale of tower infrastructure in Madagascar, Malawi and Tanzania, while providing immediate short-term revenue, represents a long-term shortfall. This, together with regulatory KYC issues in Nigeria, has impacted its revenue growth. In its financial results for the half year ended 30 September 2022, the telco reported 16.9% constant currency...

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Cell C released its latest financial results last week, revealing that it remains technically insolvent following the Blue Label Telecoms recapitalisation deal. On 22 September, Blue Label concluded a deal to restructure and refinance Cell C and reduce its debt to give the mobile operator a healthier balance sheet. New money will also be injected into Cell...

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Wiocc Group, the pan-African telecommunications and data centre infrastructure company, has secured a US$30-million (R540-million) equity investment from the International Finance Corporation (IFC). Wiocc, which was one of the original investors in the Eassy submarine broadband cable system along Africa’s east coast, is aggressively deploying fibre and data centre infrastructure across the continent. The investment in...

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Kenya’s leading telco Safaricom, NCBA and KCB Bank Kenya have announced a restructuring of the popular Fuliza overdraft facility. Fuliza was launched back in January 2019 and the service allows M-Pesa customers to send money or pay for goods and services even when they have insufficient funds in their accounts. The new restructuring will now see customers transacting...

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Cell C’s long wait for relief is over, as the debt-laden mobile operator has finally secured fresh funding to recapitalise the business. The painstakingly-long cash-raising exercise was led by the telco’s largest shareholder, Blue Label Telecoms, which today announced it had concluded binding agreements with key financial backers. The deal will see new money flow...

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Kenya has licensed ten finance companies to offer digital loans – this while the country’s financial regulator, the Central Bank of Kenya (CBK), looks to crack down on high interest rates, abuse of personal private information and unethical debt collection services for credit facilities offered through digital platforms such as via mobile phones and mobile...