Embattled Denel moves to appoint key executives
Denel has had seven chief executives since 2015, and several finance directors. The current board of directors has just six members.
Stay updated with breaking news from Daniel Mantsha. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Denel has had seven chief executives since 2015, and several finance directors. The current board of directors has just six members.
Denel, the State-owned armaments manufacturer whose primary mandate is to equip South Africa's armed forces, says it is appointing an executive team to lead the organisation and bolster its efforts to improve governance, restructure and stabilise the organisation to fulfil its mandate. On Wednesday Gloria Tomatoe Serobe, the interim chair of Denel, told Parliament's Standing Committee on Public Accounts (Scopa) that the process to appoint a group chief executive, a chief financial officer (CFO) and a chief audit executive would be completed during the current financial year.
Judgment in the application by seven of the eight accused in the first Gupta-linked state capture trial in the Bloemfontein High Court is expected on 12 April. Lawyers for the accused argued there was a lack of evidence, but the state hit back, saying there was common purpose to defraud.
The accused in the Nulane trial have argued the state had stuck to a preset conclusion about how it conducted its investigation and prosecution in the matter.
Lawyers and law firms were instrumental in the State Capture project. One attorney who has not been held to account is Daniel Mantsha.