Denel's interim board to give an update on liquidation in 7 days

Newly appointed Denel chairperson Monhla Hlahla has set out the key priorities of the interim board.

On Monday, Public Enterprises Minister Pravin Gordhan announced an interim board of directors for the struggling state-owned entity.

Hlahla says the first job is to deal with the liquidation issue.

Management gave us a broad feel of the nature of liquidity challenge we may be having.

Monhla Hlahla, Denel interim chairperson

Denel is still facing serious financial difficulties with debts owning of R350-million.

It's very important for one not to pretend that you come up with an action plan when you still have the fundamental exercise of understanding the business.

Monhla Hlahla, Denel interim chairperson

ALSO READ: Gordhan appoints new board members to rescue cash-strapped Denel

It's immediate and critical for us to say to critical stakeholders that this is how we have dealt with it and we should do so in seven days.

Monhla Hlahla, Denel interim chairperson

Listen to the timeline the interim board has set for itself


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