Denel has received a loan to pay its staff their full salaries this month, according to public enterprises minister Pravin Gordhan, giving the company a short-term reprieve from a cash crisis.
A meltdown at some of South Africa’s biggest state companies is intensifying, placing the nation’s finances at risk and frustrating President Cyril Ramaphosa’s efforts to attract new investment and resuscitate a moribund economy.
State-owned arms manufacturer Denel said it doesn’t have enough cash to pay its staff their full salaries this month, joining other government-owned companies clamouring for support in South Africa.
Finance minister Tito Mboweni said a discussion must begin on whether the government needs to retain control of all the assets it currently owns given the poor state of the national finances.
On this episode of the TechCentral podcast, we chat to South African space engineer Jonathan Lun about being named winner of Singularity University’s Global Impact Challenge Southern Africa for 2017
The head of economic transformation in the ANC has backed finance minister Pravin Gordhan, saying charges relating to setting up an illicit tax surveillance unit are “concocted” and politically motivated
Deputy finance minister Mcebisi Jonas is “worried” about the impact of a perception that state institutions are being used to advance political agendas, saying the issue is a distraction to efforts to expand the economy. “Political behaviour does
As South African finance minister Pravin Gordhan tries to fend off a police investigation, his department is engaged in open conflict with key state-owned companies over their management and spending plans. Threatened court action by the national
The Hawks are working on a project with state-owned Denel Dynamics to find the right drone technology in the fight against rhino poaching, parliament heard on Friday. Parliament’s police committee was briefed by the South African Police Service
Arms manufacturer Denel will work with GEW Technologies, owned by Airbus, on future electronic warfare programmes for South Africa, the parastatal said on Tuesday. Electronic warfare technology