DA wants answers on Denel’s apparent cash flow problems


Apparent cash flow problems at government-owned defence and technology conglomerate, Denel, have attracted the attention of opposition politicians with Natasha Mazzone of the Democratic Alliance (DA) asking for an “immediate update of the true status of its financial affairs”.

This follows what she called “revelations” that Denel has run out of money – “a damning indictment on its leadership and floundering executives”.
“Denel must come clean and give an urgent response as the DA has received numerous requests for intervention. It is clear the executives can no longer be trusted to solve this impending emergency, so much so the DA has been asked to assess the situation.
“It is clear Denel management is completely inept and unable to handle any emergency.
“It has been reported Denel is running so low on cash it will not be able to pay suppliers and the 4 000 employees December salaries.
“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 Denel employees and suppliers are paid,” Mazzone said.