Struggling state arms firm Denel suspends CFO
Reforming troubled state-owned entities such as Denel is a top priority for President Cyril Ramaphosa.
JOHANNESBURG - South African state-owned arms manufacturer Denel, which has been struggling to pay salaries to staff, has suspended its chief financial officer Odwa Mhlwana while it conducts a probe into allegations of misconduct by him, the firm said on Monday.
Reforming troubled state-owned entities such as Denel is a top priority for President Cyril Ramaphosa as he strives to put the sluggish economy back on a sustained growth trajectory.
Mhlwana could not be reached for comment.