On Wednesday, the Denel board was challenged to convince members of Parliament that it is not captured, nor serving the interests of Gupta families rather than the national interest.
EWN Parliamentary Reporter Gaye Davis reports that Members of Parliament were not unimpressed by the board.
Second day of grilling state owned entities. Yesterday Eskom and today Denel.— Gaye Davis, EWN Parliamentary Correspondent
Davis says the board had probing questions for the board especially from former finance minister, Pravin Gordhan. Davis says Gordhan wanted answers about the dealings with Gupta-linked company VR Laser.
Denel, you might know, has decided on going into a joint venture with VR Laser SA and VR Laser Asia which is owned by Salim Essa who is a Gupta associate.— Gaye Davis, EWN Parliamentary Correspondent
Davis adds that the deal has been blocked by Treasury because of concerns with its links with politically exposed people.
The state-owned company has approached the High Court to get approval for the venture.
Davis says former Treasury director-general Lungisa Fuzile submitted an affidavit citing concerns that VR Laser SA doesn’t appear to be able to raise the funds that would enable VR Laser Asia to establish the joint venture.
Listen to the full report here: