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Denel under pressure to provide details on financial status

Trade union Uasa this week warned that more than 4,000 employees at Denel are at risk of not being paid their December salaries.

The Denel board announce financial results for the 2016/2017. Picture: @DenelSOC/Twitter

JOHANNESBURG - Amid allegations of cash flow problems at Denel, the Democratic Alliance (DA) has requested an urgent update on the true status of the company's financial status.

Trade union Uasa this week warned that more than 4,000 employees at Denel are at risk of not being paid their December salaries.

The state-owned company has experienced severe liquidity challenges which has already resulted in the staff's 13th cheque not being paid.

It emerged last month that Denel was struggling to pay suppliers, who were in turn refusing to honour new invoices.

The DA’s Natasha Mazzone says it’s clear that the executives can no longer be trusted to solve this impending emergency.

“It’s disheartening that suppliers and certainly employees at Denel will not be receiving salaries this month. This is a very frightening prospect and Denel must give us the facts so that we know what the status is.”

(Edited by Shimoney Regter)

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