Denel hopeful Treasury bail-out will see December salaries paid

The Democratic Alliance (DA) says it wants an urgent update from Denel on the financial affairs of the state-owned entity.

Trade Unions United Association of South Africa (Uasa), the National Union of Metalworkers of South Africa (Numsa) and Solidarity claim that Denel has run out of money and will not be able to pay its staff their December salaries - or pay its suppliers.

Stephen Grootes spoke to Denel's Chief Financial Officer (CFO) Odwa Mhlwana.

He says it is meeting with Treasury on Friday morning to address its financial woes and is hopeful employees' will receive their December salaries.

We honestly hope and trust that we will be able to do that given the engagement that we have had with our shareholder ministry as well as National Treasury.

Odwa Mhlwana, Denel's Chief Financial Officer (CFO)

We are essentially at a point where we are finalising those discussions and I am absolutely confident that a solution will be sought imminently. We are meeting Treasury this morning and I am convinced there will be a solution.

Odwa Mhlwana, Denel's Chief Financial Officer (CFO)

Click on the link below to listen to the full interview....


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