This cash comes from Oger Telecoms which invested a further $350-million (around R3.5-billion) and key lenders “including Nedbank and the Development Bank of South Africa” which provided R2.2-billion.
Cell C wants to improve and expand its network from the South of Gauteng near Vereeniging to as far North as Bela-Bela, Knott-Craig said.
He added that they also want to invest in capacity upgrades as traffic on the Cell C network has doubled in the last 15 months.
Knott-Craig also said that for them to gain the market share they need to be sustainable will cost money. “Distribution channels are not free,” Knott-Craig said.
Asked whether the cash injection would help Cell C fix the network problems users have been reporting, Knott-Craig said, “Yes. Without investment we can’t address them.”
Knott-Craig said that a lot of capacity problems have been addressed in the last 3 months and that the problems subscribers have been experiencing of late is due to issues with Cell C’s national roaming agreement with Vodacom.
Vodacom is not handling hand-over of users on Cell C’s network to its own as seamlessly as it should be, Knott-Craig said.
Cell C tried to resolve the matter with Vodacom with no success, so they have decided to lodge a complaint with the Independent Communications Authority of South Africa, Knott Craig said.