There are hundreds if not thousands of public servants who are facing disciplinary action - they did not benefit directly, writes Melanie Verwoerd.
Morning clouds. Mild.
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.
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.
The Special Investigating Unit is investigating the alleged misappropriation of intellectual property rights belonging to state defence firm Denel, according to reports.
Denel Asia was seen to be part of an attempt by Gupta family associates to hijack Denel's intellectual property.
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.
Carmen le Grange's appointment comes 10 days after the cash-strapped state arms manufacturer was granted a R1.8 billion lifeline.
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.
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 group CEO Danie du Toit says Minister of Finance Tito Mboweni's commitment to recapitalising Denel is a welcome development.
Union Solidarity has threatened legal action against state-owned arms company Denel, after news that it would be unable to pay staff in July.
A number of key state-owned enterprises which are supposed to drive economic activity faced financial ruin, adding further strain on the ailing economy
Dispute centres on clause in export documents that requires foreign customers not to transfer weapons to third parties.
The tax agency has dismissed Refiloe Mokoena, its Chief Officer: Legal Counsel.
The arms group's CEO says it cannot rely exclusively on the production and sale of arms to drive profits in the future.
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.
The state arms manufacturer says the bailout will aid its turnaround plan.
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.
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.
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 the SA government to give it a R2.8bn financial boost, says a spokesperson for the state-owned arms manufacturer.
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