Cell C's R12.6bn Turnaround | ITWeb Tech Headlines | 17-22 August 2026
These are the stories making headlines on ITWeb this week. Cell C added 1.3 million subscribers and cut net debt by 64% in its first full year as a JSE-listed company, with group revenue climbing to R12.64 billion. Meanwhile, Standard Bank is shifting from just using AI tools to becoming a fully AI-enabled organisation, with more than 39 000 staff, 72% of its workforce, now active generative AI users.
The subscription-based technology rental company enters business rescue after its board concludes the firm is financially distressed.
Application will be made to the court for an order discontinuing the Ellies business rescue proceedings and placing the company into liquidation.
The Reunert unit recently switched off the printers it was outsourcing to the insolvent state-owned enterprise, due to an unpaid debt.
Business rescue practitioners plan to retrench thousands of workers at the bankrupt state-owned enterprise.
Various alternatives are being explored for the citizen engagement platform, amid the ongoing business rescue.
The COVID-19 Business Rescue Assistance War Room offers help to business in financial distress.
The process to liquidate Yekani Manufacturing has been frozen, pending a hearing on the business rescue application.
The drama continues at 4Sight, as it announced this morning that its intermediate company has filed for business rescue.
Douglas Craigie Stevenson believes the telco still has a fighting chance to reverse its fortunes and says business rescue is unthinkable.
The group's stock plummets 50% on news of its dire financial situation.
The business rescue practitioner will brief creditors as to their options around rescue or liquidation of the company.
The pay-TV operator's board takes protective measures, while the company continues to struggle to find an equity partner.