{
  "id": 2357509,
  "title": "Cell C adds 1.3m subscribers as turnaround gains pace",
  "url": "https://urgent.news/2026/08/21/cell-c-adds-1-3m-subscribers-as-turnaround-gains-pace",
  "topic": "tech",
  "section": "Tech",
  "published": "2026-08-21T09:58:35.000Z",
  "source": {
    "name": "ITWeb",
    "slug": "itweb",
    "url": "https://www.itweb.co.za/article/cell-c-adds-13m-subscribers-as-turnaround-gains-pace/DZQ58MV8mDXvzXy2"
  },
  "original_language": "en",
  "account": "Cell C, South Africa's fourth-largest mobile operator, announced a significant turnaround in its financial performance during the first full reporting period following its listing on the JSE in November 2025. The company added 1.3 million subscribers, boosting its customer base to 8.884 million, and reported revenue growth of 14% year-on-year, reaching R12.64 billion. Service revenue increased by 6% to R11.64 billion, and adjusted EBITDA stood at R5.51 billion. Cell C also cut its net debt by 64%, reducing it from R5.69 billion to R2.02 billion, improving its net debt to EBITDA ratio from 4.29 times to 1.56 times. CFO El Kope emphasized that the balance sheet reset is delivering real flexibility and lower risk, with second-half performance reflecting the underlying business as the company continues to pursue capital discipline in an asset-light model. The CEO, Jorge Mendes, highlighted the resilience of the business with service revenue of about R6 billion and cash generation of R703 million. Cell C's balance sheet is now fundamentally different from past solvency challenges, with the company positioning itself as South Africa's leading wholesale platform and earning customer trust. The company expects FY27 to be its first full financial year as a simpler group, with revenue growth in the upper-single-digit range and focused priorities on profitable growth in prepaid and postpaid segments, diversifying the platform, and improving efficiency through technology and automation.",
  "summary": "The company targets revenue growth in the upper-single-digit range in its 2027 financial year, after growing wholesale revenue by 20% and cutting net debt by 64%.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}