DENEL bailout unsustainable: DA - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

DENEL says government's decision to recapitalise the firm will help create a sustainable asset for South Africa.to embattled arms company, DENEL, as unsustainable.

DENEL says government’s decision to recapitalise the firm will help create a sustainable asset for South Africa. DENEL CEO, Danie du Toit, says the cash is being made available due to progress in restructuring the business, among other things. He says they have asked for a total of R2.8 billion and the balance of the money is likely to be considered by government in the next financial year.

However, in a statement, the DA has called for DENEL to the privatised, saying it’s no longer rational or feasible for government to have full ownership of the firm.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

DENEL granted R1.8 billion bailout from Treasury - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Treasury has granted embattled arms company, DENEL, a R1.8 billion bailout. DENEL says in a statement that government's decision to recapitalise the firm will help create a sustainable asset for South Africa.
Source: SABC News Online - 🏆 32. / 51 Read more »