Author: Agency Staff

A meltdown at some of South Africaโ€™s biggest state companies is intensifying, placing the nationโ€™s finances at risk and frustrating President Cyril Ramaphosaโ€™s efforts to attract new investment and resuscitate a moribund economy.

State-owned arms manufacturer Denel said it doesnโ€™t have enough cash to pay its staff their full salaries this month, joining other government-owned companies clamouring for support in South Africa.