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Parliament wants struggling SOEs to explain continuous pleas for bailouts
National Treasury told MPs that the SABC had asked for R4.9 billion in financial support, the Post Office (Sapo) needed R1.5 billion, and the Airports Company of South Africa (Acsa) wanted a three-year loan guarantee of R3.5 billion.
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Treasury says SABC, Sapo asked for financial support
It also revealed the Post Office had asked for R4.9 billion to help it through the COVID-19 pandemic.
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Treasury warns Denel faces risk of bankruptcy protection
Denel has struggled to pay salaries this year amid a liquidity crisis aggravated by the coronavirus crisis.
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Denel not planning to seek further bailouts
Denel, which makes military equipment for South Africa’s armed forces and clients around the world, is one of several troubled state-owned companies in the country that have been kept afloat by government bailouts in recent years.
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Denel made R1.7 billion annual loss, Department of Public Enterprises confirms
The Department of Public Enterprises said in a presentation to Parliament that Denel’s latest annual loss was caused by a significant decline in revenue.
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Denel appoints Talib Sadik as interim group CEO
Sadik takes up the reigns at a time when the state arms company is in the throes of a liquidity crisis and has failed to pay workers their salaries for three months now.
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D-day for Denel: Will they have plan on how they will pay outstanding salaries?
The state-owned entity requested an extension until Friday after failing to adhere to a court order to settle what it owes workers last week.
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Solidarity, UASA head to court to force Denel to pay staff outstanding salaries
The unions are preparing to file contempt of court papers after the state arms manufacturer missed a deadline to pay by last Friday.
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Denel can't honour court ruling on salaries - letter
The state-owned company, which makes equipment ranging from armoured vehicles to missiles, has struggled to pay staff salaries due to a liquidity crisis aggravated by the COVID-19 pandemic.
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Denel ordered to pay outstanding salaries by Friday
The Labour Court on Tuesday ordered state defence firm Denel to pay workers outstanding salaries for May, June and July by no later than Friday, 7 August, a copy of the court judgment showed.
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Trade union Uasa to approach courts over months of unpaid salaries at Denel
The union is seeking an interdict from the Labour Court that will force the cash-strapped state-owned entity to honour all outstanding contractual and statutory commitments to employees.
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CEO of Denel Danie du Toit to step down
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.
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Denel seeks to revise bailout conditions to survive
One of several struggling state firms, Denel launched a recovery plan in 2018 but the COVID-19 pandemic dealt a blow to the company, which makes equipment ranging from armoured vehicles to attack helicopters and missiles.
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Solidarity calls on govt to give struggling Denel financial support
The company announced that it is not in a position to pay May salaries and possibly subsequent months as well.
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Solidarity calls for lockdown rules to end as Denel unable to pay salaries
The organisation said businesses such as Denel were not generating income due to the lockdown, leading to workers losing out on income.
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Denel says can't pay May salaries
Denel is one of a number of struggling state enterprises the government has been keeping afloat with bailouts but are now being battered by the fallout from the coronavirus pandemic.
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Denel fails to pay pension contribution, taxes
Denel is one of a number of loss-making state-owned enterprises the government had been keeping afloat with bailouts but which are now being battered by the coronavirus pandemic and a nationwide lockdown aimed at preventing the disease’s spread.
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Denel, CSIR, Armscor, Eskom join forces to produce COVID-19 ventilator
There’s a desperate need for more of these medical devices globally as a result of COVID-19 patients with respiratory difficulty requiring critical care in hospital.
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COVID-19:Denel among SOEs lending expertise towards SA production of ventilators
Denel has responded to a call from the Department of Public Enterprises to drive the ventilator project, in preparation for a possible surge in the number of hospitalised patients requiring this specialised piece of equipment.
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SOEs to get R129 billion in bailouts over 3 years
A summary of bailouts of state-owned enterprises (SOEs) over the last 12 years shows how the government has allocated R162 billion to financially distressed SOES.
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Godongwana: Consolidation of SOEs key to ensuring SA's economic growth
The ANC’s NEC said the consolidation of state-owned enterprises was imperative to ensure growth and avoid a possible downgrade by ratings agency.
