21 April 2021 Peter Takaendesa, the head of equities at Mergence Investment Managers, said it had been a very difficult environment to implement a turnaround strategy given a tough economic environment, Covid-19 lockdowns and increasing competition as the big two mobile operators were forced to reduce data prices by the competition commission.
20 April 2021 It’s never fair to dismiss someone’s plans,” Takaendesa says. “But it was always going to be difficult to turn this business around. People go to Cell C for affordable data and packages, something that will become harder and harder to compete on. We will watch their transition into a techco with interest.
08 April 2021 Peter Takaendesa, head of equities at Mergence Investment Managers, which also holds Naspers and Prosus shares, said he favoured another buyback over acquisitions, given that, aside from Tencent and its online classifieds, Prosus’ other businesses are loss-making.