BUSINESS MAVERICK: Man on a mission: Acting CEO William Hlakoane is ‘up for the challenge’ of fixing Denel

William Hlakoane, who accepted the job of acting Denel CEO six months ago, takes umbrage at suggestions that saving the state-owned arms company from collapse is a waste of time, effort, and importantly, money belonging to SA taxpayers.

Denel also manufactures the Rooivalk, an assault helicopter platform that is used by the South African National Defence Force and is world-renowned for its quality and innovation. The world’s two largest aircraft manufacturers, Airbus and Boeing, still draw inspiration and knowledge from Denel’s Rooivalk project for their aircraft components.

“When I go to bed, I think about people who are not being paid and wonder about how they are feeling. It is a sad situation we find ourselves in. “I cannot stand back and watch an SOE go down the drain. I have to stand up and be counted among the people that helped an SOE to survive. I am up for the challenge of fixing Denel,” he said.

The five-year turnaround strategy is mainly based on cutting costs at Denel, as 60% of its cost base goes towards compensating workers. To reduce costs, Hlakoane wants to eliminate redundancies across the Denel group by reducing its business divisions from six to two. Each of the divisions has CEOs and executives, increasing Denel’s employee compensation costs at a group level.

darren_olivier I'm happy to join those who are sharing the good news about Albert. I'm not persuading anyone to trade with him but i advise every investor to make the right choice with Albert_Kason I got my withdrawal safely without any interruption.

darren_olivier Do the board of directors also dont get salaries or is it only the workers not getting paid.

Once an aspirational place to work is now a skeleton after an injection of cadres and ANC incompetence and corruption. It’s so sad you want to bawl your eyes out. Alas the theee is most likely not a single ANC official that is embarrassed or sad about this.

There is no turnaround strategy here, jst liquidate.

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BUSINESS MAVERICK: Inflation eases in July, giving SA Reserve Bank room to keep lending rates flatSouth Africa’s consumer inflation inched lower in July, to 4.6% year on year from 4.9% in June, with the continued rise in food and meat product prices balanced out by a dip in the cost of education and communications, possibly giving the SA Reserve Bank enough room to keep interest rates flat after it signalled an end to its cutting cycle earlier this year. We are going to vote for the EFF and insource workers and nationalise strategic sectors of the economy and expropriate the land without compensation. No white fragility victimist mentality and it's propaganda is going to stop the EFF. Socialism is our last hope.
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