Cell C CEO Jorge Mendes. (Image supplied)
Cell C CEO Jorge Mendes has bought nearly R20.8 million worth of shares in the company in two on-market transactions.
A JSE disclosure shows Mendes acquired 52 187 ordinary shares at R23 each on 17 September, for a total of R1.2 million.
Four days later, on 21 September, he bought a further 740 000 shares at R26.50 each, worth R19.61 million.
The two transactions total 792 187 shares, with a combined value of R20.81 million.
Both purchases were made on-market and were in Mendes’s direct beneficial interest. The required clearance for the transactions was obtained.
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The disclosures were made in compliance with paragraphs 6.77 to 6.89 of the JSE Listings Requirements.
Since taking over as Cell C CEO in June 2023, Mendes has led a broad turnaround of the financially-distressed operator, starting with an overhaul of its executive committee and the recruitment of experienced telecoms executives, including several from his former employer Vodacom.
He subsequently drove a brand refresh, including a new identity, products, retail stores and rebuilt digital channels, as Cell C sought to return to sustainable growth and profitability.
The turnaround also involved cutting debt from R9 billion to R3 billion, and restructuring network and roaming arrangements.
In November 2025, Cell C listed on the JSE and its first results as a listed company showed the operator continuing efforts to strengthen its balance sheet and stabilise the business.
