DA requests urgent update from Denel regarding financial woes

14 December 2017

The revelations this week that state-owned arms manufacturer, Denel, has run out of money is a damning indictment on its leadership and floundering executives.

The DA has written to Denel to request an urgent update on the true status of its financial affairs.

Denel must come clean and give an urgent response as the DA has received numerous requests for intervention. It is clear that the executives can no longer be trusted to solve this impending emergency. So much so that the DA has been asked to assess the situation.

It is clear that the Denel management is completely inept and unable to handle any emergency.

It has been reported that Denel is running so low on cash that it will not be able to pay their suppliers and their 4 000 employees December salaries. It is disheartening to imagine that during the festive season, Denel employees could potentially not receive their salaries after a long year of hard work and dedication.

Our state-owned enterprises (SOE) are in crisis and the fault must be placed squarely at the feet of the Minister of Public Enterprises, Lynne Brown. Under her watch our SOE’s have disintegrated due to corruption and gross mismanagement.

The DA expects a comprehensive and swift response from Denel. We need to get to the bottom of this financial mess to ensure that Denel employees and suppliers are paid.

Issued by Natasha Mazzone, DA Shadow Minister of Public Enterprises, 14 December 2017