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  • Denel ordered to pay workers their outstanding salaries

    Denel has been ordered to pay workers their outstanding salaries. Two trade unions, Solidarity and UASA, went to court after members’ weren’t paid for May,...

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    Denel has been ordered to pay workers their outstanding salaries. Two trade unions, Solidarity and UASA, went to court after members’ weren’t paid for May, June, and July. The state-owned defence company now has until Friday to pay up. The company has been battling a liquidity crisis, and it’s not clear where the money will...
  • Denel CEO Danie du Toit resigns

    The chief executive of South Africa’s beleaguered state-owned defence firm Denel will step down on 15 August the company said on Monday. Denel, which makes...

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    The chief executive of South Africa’s beleaguered state-owned defence firm Denel will step down on 15 August the company said on Monday. Denel, which makes equipment ranging from armoured vehicles to attack helicopters and missiles, has struggled to pay employee salaries amid a liquidity crisis aggravated by the COVID-19 pandemic. The company did not say...
  • Denel seeks to revise bailout conditions to survive

    Denel may not survive the next few months unless the government lets it use some promised bailout funds to generate revenues rather than to repay...

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    Denel may not survive the next few months unless the government lets it use some promised bailout funds to generate revenues rather than to repay debt, the chief executive said. Denel, one of several struggling state owned enterprises, launched a recovery plan in 2018 but the COVID-19 pandemic dealt a blow to the company, which...
  • Denel employees won’t be getting their salaries for May

    Denel employees won’t be getting their salaries for May. A statement from the state-owned enterprise says the COVID-19 pandemic has significantly impacted its finances. The...

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    Denel employees won’t be getting their salaries for May. A statement from the state-owned enterprise says the COVID-19 pandemic has significantly impacted its finances. The company says it’s had to implement drastic measures to save the company. Salaries for June and July are also not guaranteed. Denel says it’s in talks with labour unions to...
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