Parliament’s Portfolio Committee on Public Enterprises has added its voice to those congratulating Minister Pravin Gordhan on the appointment of a new board for Denel.
Committee chair Lungi Mnganga-Gcabashe said in a statement issued in Cape Town: “The new board will be able to steer Denel in the right direction following the liquidity challenges it experienced”.
She also indicated the new board would take up the governance issues Denel “has been battling with”.
At the same time Denel chief executive Zwelakhe Ntshepe said executives at the State-owned defence and technology conglomerate look forward to working with the new board.
He sees Gordhan’s appointments as providing oversight and helping Denel find both short and longer term sustainable solutions for the “current challenges” facing Denel.
“We especially welcome the Minister’s confirmation that Denel is a strategic national asset and vital for national security, technology and economic development.
“Management and employees of Denel firmly believe in the future of the company. We design and manufacture world-class products in the defence and technology environments. We have well established footholds in key international markets,” he said.
The Denel chief executive also welcomed Gordhan’s approach as far as consulting with key stakeholders and strengthening business relationships with them is concerned.
He sees Denel as a vital contributor to the safety and security of South Africa and all its citizens as well as having the potential to be “a major catalyst” for future growth of the local technology and advanced manufacturing sectors.