Connecting Africa is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 3099067.

Business of Tech

SA's Cell C has a new CFO

Article Image
South African mobile operator Cell C has appointed Lerato Pule as the company's new CFO, taking over from Zaf Mahomed.

Cell C said in a statement that with the company's recapitalization almost complete, Mahomed "will move on to new business opportunities."

"Over the last three years Zaf Mahomed assisted us in successfully navigating a complex transaction to de-leverage the balance sheet as part of our turnaround strategy," said Cell C's CEO Douglas Craigie Stevenson.

"We thank Zaf for his contribution during a very critical phase of Cell C's journey and wish him all the best as he pursues new opportunities. He is ready for his next challenge," he added.

CFO Zaf Mahomed is leaving Cell C to pursue new business opportunities.  (Source: Cell C).
CFO Zaf Mahomed is leaving Cell C to pursue new business opportunities.
(Source: Cell C).

The telco said that Pule joined the leadership team earlier this year to ensure a smooth handover and officially takes over today (September 1).

Prior to joining Cell C, she was the CFO of Telkom South Africa's SME segment.

Pule is a qualified chartered accountant with over 16 years' experience in financial and business management at an operational and strategic level in various organizations including BCX and African Bank.

Recap rewind

Cell C underwent a recapitalization back in 2017 when Blue Label Telecoms bought a 45% stake in the operator but since then has faced serious financial challenges.

It has been trying to put a second recapitalization deal together for about three years as a way to reduce debt and also provide working capital to drive revenue growth and profitability.

Last week Blue Label's joint CEO, Brett Levy, confirmed that the recapitalization deal should be finalized by mid-September 2022.

Want to know more? Sign up to get the weekly Connecting Africa newsletter direct to your inbox.

In July, Cell C managed to cut a slice off its debt as some secured lenders agreed to forfeit 80% of the debt owed to them.

The particular debt of $184 million slashed in that deal was just a portion of Cell C's overall debt of around $436 million owed to secured lenders.

Related posts:

*Top image is of new Cell C CFO Lerato Pule (Source: Cell C).

— Paula Gilbert, Editor, Connecting Africa

Innovation hub


Hot startup of the month: South Africa's Zoie Health

This month's hot startup is South African digital women's health clinic Zoie Health – a digital app that focuses on family planning, fertility and maternity care.


Orange Côte d'Ivoire launches 5G lab in Abidjan

Pan-African telecoms operator, Orange, has launched a 5G lab in Côte d'Ivoire in anticipation of its 5G network rollout in 2023.

More Innovation hub

Partner perspectives

5G is lighting up the future of North Africa
By Chris Meng, VP of Huawei Northern Africa Carrier Business Department

The moving target that is telecoms fraud
By Clémentine Fournier, Regional VP Sales, Africa, BICS

How mobile operators in Africa can address signalling threats and secure the network
By Katia Gonzalez, Head of Fraud and Security at BICS

All Partner Perspectives

Africa Tech Perspectives


Women in Tech: Spotlight on inclusivity with Digital Council Africa's Juanita Clark

Digital Council Africa founder and CEO, Juanita Clark, talks to Connecting Africa as part of our Women's Month series about her career and what needs to be done to make the tech industry intentionally inclusive.


Women in Tech: Spotlight on legal tech with Life.file's Sinal Govender

Life.file co-founder, Sinal Govender, talks to Connecting Africa as part of our Women's Month series about her career and how we can encourage more young girls to enter the legal tech field.


Digital inclusion as a catalyst for economic empowerment: Mastercard's Imelda Ngunzu

Mastercard's Imelda Ngunzu talks to Connecting Africa about how digital payment solutions and mobile money are transforming the lives of small business owners, women and marginalized groups in East Africa.

More AfricaCom perspectives

Latest video

More videos

Industry announcements

More Industry announcements

Guest Perspectives


Omdia View: July 2022

By Omdia Analysts

Kenya and Zambia move towards 5G with new spectrum allocations while Tunisie Telecom plans to shut down its 3G network - that and more in this month's Omdia View.


Omdia View: June 2022

By Omdia Analysts

5G was the major news trend across Africa in June, as Orange became the first operator to launch 5G in Réunion and operators in Senegal accelerated their 5G plans despite spectrum delays.

More Guest Perspectives

Upcoming events

Africa Tech Festival
November 7-11, 2022
CTICC, Cape Town
More Upcoming events

Archived webinars

Africa Green ICT: Lighting Up a Sustainable Continent

The ICT industry is the leading industry in the commitment to carbon neutrality, whose focus has shifted from setting ambitious targets to taking initiatives. The push for zero-carbon and for green energy development, it isn't just about CSR – it's also good for sustainable business.

The path to sustainable development requires green energy. Governments are looking at potential policy approaches to make green energy more widely available and affordable. Without sustainable energy, there will be no digital transformation and no chance of making Africa more economically competitive in the post-pandemic era.

Africa Green ICT Webinar 2022 will bring together ICT industry leaders and senior industrial analysts to provide insight, best practices and key learnings on how to achieve zero-carbon targets and practice green development in Africa.

More Webinars

Sponsored video

More videos

Flash poll

All polls

Like us on Facebook

Newsletter Sign Up

Sign Up