5 ways Mboweni tried to trim the fat in 2019

2019-12-30 06:23

While the finance minister announced plans to draw a hardline against bailouts for state-owned enterprises in his national budget speech in February – efforts to contain the state's growing debt came to naught by the time October arrived.

Dwindling orders, falling budgets, no contingency plan: SOEs devastated by state capture, report finds

2019-12-03 06:01

Parliament's Portfolio Committee on Public Enterprises said in its newly released oversight report into state-owned companies that South African parastatals were still reeling from the effects of state capture and would need support from the Department of Public Enterprises.

SIU probing alleged intellectual property theft from Denel - reports

2019-11-21 09:17

The Special Investigating Unit is investigating the alleged misappropriation of intellectual property rights belonging to state defence firm Denel, according to reports.

End of a (state capture) era: Denel Asia will be liquidated next year

2019-11-06 15:49

Denel Asia was seen to be part of an attempt by Gupta family associates to hijack Denel's intellectual property.

Audit reports read like an SOS from SOEs, Parliament hears

2019-10-09 05:00

Irregular expenditure among the entities under the Department of Public Enterprises went from R31.4bn in the 2017/18 financial year to R86.2bn in the 2018/19 financial year.

Denel announces new chief financial officer

2019-09-09 10:20

Carmen le Grange's appointment comes 10 days after the cash-strapped state arms manufacturer was granted a R1.8 billion lifeline.

Solidarity hails court victory in Denel case over salary deductions

2019-08-20 11:59

The North Gauteng High Court in Pretoria ruled on Tuesday morning that state-owned arms utility Denel must urgently pay over unemployment insurance and tax deductions from staff members' salaries.

The unenviable task of the chief restructuring officer

2019-07-31 17:52

If the powers of the CRO appointed to SOEs could be any closer to those of a business rescue practitioner they would have a fighting chance to make decisions that may be felt within the SOEs, writes Matodzi Ratshimbilani.

Denel will turn around, and we will pay salaries - CEO

2019-07-24 17:56

Denel group CEO Danie du Toit says Minister of Finance Tito Mboweni's commitment to recapitalising Denel is a welcome development.

Denel salaries on the line again

2019-07-22 18:14

Union Solidarity has threatened legal action against state-owned arms company Denel, after news that it would be unable to pay staff in July.

 

2019: A grim year for state-owned entities

2019-12-29 07:41

A number of key state-owned enterprises which are supposed to drive economic activity faced financial ruin, adding further strain on the ailing economy

South Africa blocks major weapons sales to Saudi and UAE in inspection dispute

2019-11-25 22:07

Dispute centres on clause in export documents that requires foreign customers not to transfer weapons to third parties.

SA Revenue Service dismisses top legal officer following disciplinary hearing

2019-11-15 14:08

The tax agency has dismissed Refiloe Mokoena, its Chief Officer: Legal Counsel.

Fewer guns, more tech: Denel hints at potential operational shifts

2019-11-06 15:29

The arms group's CEO says it cannot rely exclusively on the production and sale of arms to drive profits in the future.

Denel still bleeding, but auditors say it's a going concern

2019-10-03 15:13

Denel's bad reputation had a "draining impact" on its financial position, as the arms manufacturer recorded a net loss of R1.5bn, said CEO Danie du Toit.

JUST IN: Denel gets R1.8 billion lifeline from government

2019-08-30 16:00

The state arms manufacturer says the bailout will aid its turnaround plan.

Denel promises to honour employee contracts as Solidarity heads to court

2019-08-20 05:00

Ahead of Solidarity's urgent court application over taxes owed to SARS on behalf of employees, set to be heard on Tuesday morning, Denel told Fin24 the arms utility intended to honour its contractual obligations to workers.

Solidarity taking legal action after Denel's battle to pay salaries

2019-07-29 21:00

Union Solidarity announced on Monday evening that it would serve arms utility Denel with court papers on Wednesday and announce further legal action thereafter - this after the company's ability to pay salaries for July was hanging in the balance.

More financial support on the cards for SABC, Denel, SAA - Mboweni

2019-07-23 14:26

Finance Minister Tito Mboweni says once the 2019 Appropriations Bill is passed, government will be in a position to make allocations to support state-owned enterprises like the SABC, Denel and SAA.

Denel wants R2.8bn govt bailout

2019-07-05 15:21

Denel wants the SA government to give it a R2.8bn financial boost, says a spokesperson for the state-owned arms manufacturer.

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