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Cell C's Chief Executive Officer, Jorge Mendes, purchased nearly R20.8 million worth of the company's shares in two separate transactions on the Johannesburg Stock Exchange (JSE). According to a JSE disclosure, Mendes acquired 52,187 ordinary shares at R23 each on September 17th, amounting to R1.2 million. Four days later, on September 21st, he bought an additional 740,000 shares at R26.50 each, totaling R19.61 million.

These two transactions combined to 792,187 shares with a combined value of R20.81 million. Both purchases were executed on the market and were made in Mendes' direct beneficial interest. The necessary clearance for the transactions was obtained, and the disclosures were made in accordance with JSE Listings Requirements paragraphs 6.77 to 6.89.

Since Mendes assumed the CEO role at Cell C in June 2023, he has overseen a comprehensive turnaround of the financially struggling company. This includes revamping the executive committee, recruiting seasoned telecom executives, revamping the brand, and restructuring network and roaming arrangements. The turnaround efforts culminated in Cell C listing on the JSE in November 2025, with the first results as a listed company indicating continued efforts to bolster the balance sheet and stabilize the business.