Oger Telecom injects US$180 million into Cell C

South Africa based mobile operator, Cell C is reported to have received a cash injection of US$180 million from its majority shareholder, Dubai-based Oger Telecom.

In a statement sent to local media, Cell C’s CEO Alan Knott-Craig said: "This foreign investment into SA demonstrates the confidence our shareholders have in both South Africa and Cell C."

Local news publication, TechCentral said that it understands that Cell C’s black economic empowerment shareholder, CellSAf, which own 25 per cent of the company, is not contributing equity alongside Oger’s investment.

The cash injection is reported not to be set to reduce the stakes held by the other shareholders and is viewed as a cheaper option to raising funds on the debt market.