Denel says it will pay December salaries

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Denel has said that the December salaries as well as the outstanding 13th cheque payments due to its employees will be paid out as planned on December 22. The announcement comes after a week of intense engagements the company held with its shareholder representative, the Department of Public Enterprises and the National Treasury about its severe liquidity challenges.



Confirming the successful outcome of the discussions to labour representatives, Mr Odwa Mhlwana, Group CFO of Denel further confirmed that the company will also continue with paying suppliers. “I also want to thank them for being patient with us at times when we were not able to honour our obligations. We are also thankful to our employees for their patience and understanding during these past two weeks”, Mr Mhlwana said in a statement on Friday.