Gigaba halts Denel's deal with Gupta-linked firm - report

accreditation
Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
Finance Minister Malusi Gigaba (AFP)
Finance Minister Malusi Gigaba (AFP)

Cape Town – Finance Minister Malusi Gigaba has reportedly halted a multi-billion transaction between state-owned arms manufacturer Denel and Gupta-linked VR Laser Asia. 

According to a report in the Sunday Times, Gigaba “summoned” Denel board chairman Dan Matsha to Durban – where the World Economic Forum on Africa took place – to raise concerns about the intended deal.
 
Gigaba allegedly also told Mantsha to withdraw Denel’s high court application against National Treasury which under former finance minister Pravin Gordhan did not want to authorise Denel’s joint venture with VR Laser Asia. 

Denel is challenging Treasury in court over its blocking of the intended joint venture with VR Laser.

Support independent journalism
Subscribe to News24 for just R75 per month to read all our investigative and in-depth journalism. You can cancel any time.
Subscribe
Already a subscriber? Sign in
Rand - Dollar
14.73
+0.5%
Rand - Pound
20.24
-0.4%
Rand - Euro
17.30
+0.1%
Rand - Aus dollar
10.76
-0.3%
Rand - Yen
0.13
+0.9%
Gold
1,750.09
-1.0%
Silver
22.68
-0.0%
Palladium
1,988.01
-2.0%
Platinum
1,001.63
-0.0%
Brent Crude
76.19
+2.5%
Top 40
57,643
+1.2%
All Share
64,049
+1.1%
Resource 10
57,254
+0.5%
Industrial 25
82,879
+1.7%
Financial 15
14,317
+1.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Voting Booth
What potential restrictions on unvaccinated South Africans may make the biggest difference to public health, the economy?
Please select an option Oops! Something went wrong, please try again later.
Results
Limited access to restaurants and bars
11% - 127 votes
Limited access to shopping centres
14% - 165 votes
Limited access to live events, including sport matches and festivals
26% - 301 votes
Workplace vaccine mandates
48% - 552 votes
Vote