20°C / 22°C
  • Mon
  • 27°C
  • 15°C
  • Tue
  • 27°C
  • 16°C
  • Wed
  • 27°C
  • 16°C
  • Thu
  • 21°C
  • 14°C
  • Fri
  • 24°C
  • 13°C
  • Mon
  • 21°C
  • 15°C
  • Tue
  • 22°C
  • 16°C
  • Wed
  • 25°C
  • 16°C
  • Thu
  • 28°C
  • 17°C
  • Fri
  • 31°C
  • 20°C
  • Mon
  • 29°C
  • 16°C
  • Tue
  • 29°C
  • 17°C
  • Wed
  • 30°C
  • 18°C
  • Thu
  • 25°C
  • 17°C
  • Fri
  • 25°C
  • 15°C
  • Sun
  • 29°C
  • 12°C
  • Mon
  • 27°C
  • 16°C
  • Tue
  • 26°C
  • 15°C
  • Wed
  • 27°C
  • 15°C
  • Thu
  • 23°C
  • 14°C
  • Mon
  • 26°C
  • 21°C
  • Tue
  • 28°C
  • 22°C
  • Wed
  • 24°C
  • 21°C
  • Thu
  • 22°C
  • 19°C
  • Fri
  • 24°C
  • 19°C
  • Mon
  • 21°C
  • 15°C
  • Tue
  • 19°C
  • 16°C
  • Wed
  • 20°C
  • 16°C
  • Thu
  • 22°C
  • 16°C
  • Fri
  • 25°C
  • 18°C
  • Mon
  • 30°C
  • 13°C
  • Tue
  • 23°C
  • 14°C
  • Wed
  • 29°C
  • 13°C
  • Thu
  • 36°C
  • 16°C
  • Fri
  • 39°C
  • 20°C
  • Mon
  • 24°C
  • 16°C
  • Tue
  • 25°C
  • 15°C
  • Wed
  • 21°C
  • 16°C
  • Thu
  • 25°C
  • 16°C
  • Mon
  • 30°C
  • 18°C
  • Tue
  • 29°C
  • 18°C
  • Wed
  • 31°C
  • 19°C
  • Thu
  • 26°C
  • 17°C
  • Fri
  • 26°C
  • 16°C
  • Mon
  • 30°C
  • 13°C
  • Tue
  • 21°C
  • 15°C
  • Wed
  • 26°C
  • 14°C
  • Thu
  • 24°C
  • 12°C
  • Fri
  • 26°C
  • 14°C
  • Mon
  • 28°C
  • 15°C
  • Tue
  • 31°C
  • 14°C
  • Wed
  • 28°C
  • 16°C
  • Thu
  • 24°C
  • 16°C
  • Fri
  • 27°C
  • 14°C
  • Mon
  • 20°C
  • 11°C
  • Tue
  • 17°C
  • 15°C
  • Wed
  • 19°C
  • 15°C
  • Thu
  • 21°C
  • 15°C
  • Fri
  • 23°C
  • 17°C

Denel granted R1.8 billion bailout from Treasury

It also said an additional R1 billion bailout will be considered in 2020/21 budgetary process.

Picture: @DenelSOC/Twitter.

JOHANNESBURG - State-run arms firm Denel has been granted R1.8 billion bailout from National Treasury.

It also said an additional R1 billion bailout will be considered in 2020/21 budgetary process.

The state-run arms firm said it would it dispose of non-core assets and establish strategic equity partnerships across various divisions of the company.

The company has been battling to pay its workers on time and has joined a long line of parastatals that have battled to stay viable.

It a statement released on Friday, the parastatal said it was grateful for the unwavering support that it received from government and National Treasury.

CEO Danie du Toit said it demonstrated confidence at high level for the measures taken by the new board and management through the next stages of the turnaround process.

Comments

EWN welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

- Racism (including offensive comments based on ethnicity and nationality)
- Sexism
- Homophobia
- Religious intolerance
- Cyber bullying
- Hate speech
- Derogatory language
- Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the EWN community a safe and welcoming space for all.

EWN reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

EWN is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

comments powered by Disqus