South Africa’s third mobile operator, Cell C says it signed up a record 1.6 million new subscribers in March 2014, taking its total subscriber base to 16.6 million.
Speaking at the company’s headquarters in Midrand on Tuesday (13 May 2014), new CEO, Jose Dos Santos said that the group’s total revenue increased 14% year on year, with subscribers up 35% YoY to the end of December, 2013.
Earlier this month, Cell C announced that Alan Knott-Craig would step down as CEO of the company, but would return as an executive board member. Dos Santos was confirmed as the new chief.
Cell C said it had 13.6 million subscribers by the end of 2013, with a net addition of 3.5 million users during the year.
The company lead noted that the trend has continued in to 2014, including a record month in March.
Looking ahead, Dos Santos said that the group’s capex forecast for 2014 is at R2.3 billion in 2014.
He defended the firm’s financial position, which has come under question in recent times. He said that far back as 2009 Cell C has been under pressure from the media about its survival. “From 2009, when speculation started, we have still survived,” he said.
“In 2013, we received an injection of R2.6 billion, with a further injection of R1.5 billion in 2014 so far,” Dos Santos said.
“Our shareholders have a lot of faith in the company…our company is well funded, well geared,” the chief said.
Cell C said that it added 439 new sites in 2013, taking total sites to 4,176 at December 2013.