Posts tagged with 'state arms company'

 

Cash-strapped state arms company, Denel failed to supply R250 million worth of military Casspirs to the government of Chad after already receiving R100 million deposit

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Despite having been paid a R100 million deposit almost two years ago, the state arms company Denel has failed to supply R250 million worth of army vehicles to the government of Chad. In 2017, Chad bought 40 military Casspirs from Denel, but the company could not deliver them while officials squabbled over the ownership of..
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ANC-regime stretching public finances by issuing bailouts to keep bankrupt SEO’s afloat – Denel requests a R2.8bn bailout from government

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South Africa’s state arms company, Denel as requested a R2.8-billion ($200-million) bailout from government. Denel was once part of the country’s thriving defence industry but like many other state owned entities was mismanaged and affected by corruption during the former president Jacob Zuma years which lead to a financial crisis. CEO Danie du Toit was..
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