The Cabinet approved Daniel du Toit’s appointment as Chief Executive Officer at Denel. He will immediately pay attention to superficial contracts entered into during the state hijacking period. Cost cuts will also be one of its priorities.
The arms manufacturer has deteriorated dramatically over recent years due to the political appointments made in top management who lack knowledge of the industry.
The ANC government had to save the industry of total collapse numerous time with financial support, and many contracts entered into resulted in enormous loses.
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