How the once well-oiled machine that was Denel was hacked apart.
The second volume of the state capture report noted that Denel was performing well between 2011 and 2015. The enterprise achieved 88% of its targets in the 2014/15 financial year, but things went haywire when a new board took over and the then chief executive officer , Riaz Saloojee, was suspended together with the SOE’s chief finance officer, Fikile Mhlontlo, and company secretary Elizabeth Africa.
The three were suspended and eventually pushed out of Denel over a contract awarded to Land Systems SA, which allegedly violated the Public Finance Management Act.Subscribe to News24 for just R75 per month to read all our investigative and in-depth journalism. You can cancel any time.
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