Business In The News South Africa

Denel executives welcome new board

CAPE TOWN, April 10 – Executives at Denel, South Africa’s state-owned arms manufacturer, on Tuesday welcomed the appointment of new board members and pledged support to help steer the cash-strapped organisation in a new direction.   Public Enterprises Minister Pravin Gordhan announced the new board on Monday and tasked them with improving corporate governance and […]

Business In The News South Africa

Gordhan charges Denel interim board to review major contracts, restore sound governance

PRETORIA, April 10 – Public Enterprises Minister Pravin Gordhan on Monday said the new board put in charge of struggling State-owned company (SOC) Denel has been mandated to restore sound corporate governance, review the effectiveness of the management team, among other priorities as government moved in to turn around the fortunes of the entity. “The immediate priorities for […]

In The News South Africa

#ANC54: ANC wants new mechanisms to hold government officials accountable

JOHANNESBURG, December 20 – The African National Congress (ANC) needed to come up with effective tools to hold people it deploys to government accountable, especially at state-owned enterprises (SOEs), the party’s Legislature and Governance Commission proposed on Wednesday. ”Regarding MPs [Members of Parliament], MPLs [Members of provincial legislatures], councillors in [local] government and matters relating […]

Business In The News South Africa

Denel assures employees about salaries, 13th cheque

PRETORIA, December 15 – Financially-ailing South African state-owned arms manufacturer, Denel, on Friday moved to assure its employees that they will receive their December salaries as well as their outstanding 13th cheque payments. “Denel has today [Friday] confirmed to its employees, including all organised labour unions in the company, that the December salaries as well […]

Business In The News South Africa

Auditor-General challenges Denel’s audit results

PARLIAMENT,  October 4 – Members of Parliament on Wednesday said state-owned enterprises were flouting the authority of the Auditor-General after it emerged that it asked auditing firm SizweNtsalubaGobodo (SNG) to review its clean audit of Denel’s finances to reflect irregular expenditure. Auditor-General (AG) Kimi Makwetu’s office submitted a letter to Parliament’s portfolio committee on public enterprises […]