Technology company Blue Label Telecoms has suspended two executives, pending an investigation, a spokesperson confirmed.
No details were given on the reasons for the suspension, nor what the investigation is about. "It is an internal matter we are investigating," said Elton Clothier-Huberts, stakeholder relations officer at Blue Label Telecoms.
Ventury Group is a holding company for some of Blue Label Telecom's subsidiaries, one of them being Cigicell. Cigicell provides revenue solutions for municipalities such as prepaid electricity.
Blue Label Telecoms is a shareholder of mobile operator Cell C. The company was co-founded by brothers Brett and Mark Levy. It provides telecommunications, technical support, data analytics services and prepaid products, among other things.
Last week it released its annual results for the year ended May 2021. Revenue generated from continuing operations within the group declined by 11% to R18.8 billion. Its headline earnings amounted to 86.16 cents per share, up from 58.16 cents per share.