Jose Dos Santos

Cell C plans to boost expenditure to R3bn this year as South Africa’s third largest mobile phone company hunts for acquisitions in the wake of a protracted recapitalisation by Blue Label Telecoms.

Spending fell to R1.2bn last year as the carrier was forced to put expansion on hold while the Blue Label deal was sewn up, CEO Jose Dos Santos said at a results presentation in Johannesburg on Tuesday. Cell C’s now in the process of making “several” acquisitions in the fibre market to add new services, the company said.

Cell C trails Vodacom and MTN in the South African market, though after the recapitalisation its debt fell by more than 70%. Earnings before interest, taxes, depreciation and amortisation soared by 151% in 2017 to R7.8bn, while sales rose 7%.  — (c) 2018 Bloomberg LP