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.

Denel can now pay full salaries at 11th hour

2019-06-25 17:39

Public Enterprises Minister Pravin Gordhan says that a lender has come to the assistance of state-owned arms manufacturer Denel, and full salaries will be paid to all its employees.

Mboweni warns of elevating 'state ownership to a religion'

2019-03-25 08:40

The finance minister says a discussion must begin on whether the government needs to retain control of all the assets it owns given the poor state of the national finances.

AS IT HAPPENED: Gupta family wanted to purchase LMT Holdings, #StateCaptureInquiry hears, As it happened

2019-03-20 15:30

The state capture inquiry continues with testimony from former group CEO of Denel, Riaz Saloojee.

Denel board, led by Daniel Mantsha, was 'ill-equipped, made poor decisions', state capture inquiry hears

2019-03-18 20:51

Public enterprises deputy director general Kgathatso Tlhakudi has told the Zondo commission of inquiry that a Denel board chaired by Daniel Mantsha drove the arms company's performance to the brink.


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.

Cash-strapped Denel can't pay full salaries for June

2019-06-25 10:04

Employees at the state-owned arms manufacturer will only receive 85% of their salaries for June.

State capture inquiry: 'I looked Tony Gupta in the eyes and said I don't take money' - ex Denel boss

2019-03-20 18:39

Former Denel group CEO Riaz Saloojee has told the judicial commission of inquiry into state capture that he was shocked when Tony Gupta allegedly attempted to offer him money.

WATCH LIVE | #StateCaptureInquiry: More Denel-related testimony

The judicial commission of inquiry into allegations of state capture is expected to continue to hear testimony related to state-owned defence group Denel.

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AS IT HAPPENED: Tlhakudi details how he was forced out of Denel, how others remained jobless - #StateCaptureInquiry

2019-03-18 16:00

The judicial commission of inquiry into state capture continues with testimony from deputy DG of Public Enterprises, Kgathatso Tlhakudi, related to Denel.

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