Public Enterprises Minister Pravin Gordhan says new management that understands it's work could in fact set off a positive cycle within the ailing state arms manufacturer Denel.
Gordhan announced the appointment of a new board on Monday.
Former Airports Company South Africa (Acsa) chief executive Monhla Hlahla has been appointed as the new chairperson of the board.
Gordhan says he is confident in the board.
There are a couple of things that could be done, one is review some of the contracts that have been entered into to make sure that those contracts are fair to Denel and the state on the one hand, and the parties on the other hand.— Pravin Gordhan, Public Enterprises Minister
He has set down most of what is expected of the board.
Secondly there are a number of customers outside of South Africa that have been supplied with goods but have not paid. The third is a review of its operating model so that its producing system is upgraded to the extent that when suppliers want something you are able to produce the goods.— Pravin Gordhan, Public Enterprises Minister
Planning and a management team that understands its work and what needs to be done, could in fact begin to set of a virtuous or positive cycle.— Pravin Gordhan, Public Enterprises Minister
The task of the board is to understand where the problems lie both in terms of revenue and expenditure...— Pravin Gordhan, Public Enterprises Minister
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