Denel Dynamics is yet again unable to pay staff their full salaries, but employees will receive a fifth of their normal pay in September.
According to an infogram dated 29 September from Dynamics CEO Sello Ntsihlele, “management has not been able to collect enough receivables as anticipated. We are only able to pay 20% of the September 2021 salaries at this stage.”
Ntsihlele added that the Denel division is “making all endeavours to secure the other collections. As the other expected collections materialise, a further top up will be made as soon as funds become available.”
Denel Dynamics confirmed that all medical aid payments are up to date for September 2021
Ntsihlele thanked programme and support teams for their continued efforts in completing milestones, and strengthening the business.