Rain is on track to exceed its budgeted R1 billion EBTDA. rainSouthAfrica TymeBank Digitalbanking
African Rainbow Capital -owned data-only network Rain is on track to exceed its budgeted R1 billion earnings before interest, taxes, depreciation and amortisation for the year ended February 2022.
EBITDA is considered a more reliable indicator of a company’s financial soundness, and also demonstrates the firm's worth to potential buyers and investors, as well as painting a picture regarding growth opportunities. “Rollout of 5G coverage progresses well to include more towns across the country, as well as expanding coverage in metros.”“This is due to delays in the spectrum auction and uncertainty regarding the timing, cost and size of additional spectrum being allocated to Rain.”held earlier this month, forking out R1.15 billion for two chunks of 10MHz spectrum in the 700MHz band.
Commenting on TymeBank, which has been in operation for 36 months, having launched publicly in February 2019, ARC says: “The COVID-19 pandemic and the various levels of the national lockdown since March 2020, with resultant economic pressure on the consumer, adversely impacted a number of the bank’s projects.”
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