Browsing: Denel

News
CEO of Denel to step down

The CEO of South Africa’s beleaguered state-owned defence firm, Denel, will step down on 15 August, the company said on Monday.

News
Denel can’t pay May salaries

State-owned defence firm Denel said on Tuesday it could not pay salaries for May and wages for June and July were at risk, highlighting the gravity of its financial position.

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Disintegrating SOEs imperil South Africa’s finances

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.

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Broke Denel struggling to pay salaries

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.

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Jonas worried state firms being used politically

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

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