Gupta involvement, Denel arms manufacturer in dire straights

Die Vryburger

Gupta involvement, Denel arms manufacturer in dire straights
Gupta involvement, Denel arms manufacturer in dire straights. Photo: Die Vryburger

Pravin Gordhan has met with the directors of the arms manufacturer Denel. Denel experienced severe cash flow problems and the state had to intervene with a loan of R580 million to ensure that staff and suppliers could be paid.

Early in March, Denel’s chairman, Daniel Mantsha, resigned under a cloud of alleged state capture. He has since not been replaced .

Denel’s transactions with the Gupta brothers are one of the main reasons for the financial disorder at the entity. The amounts stolen, “given away” and obscured are increasing daily.

Read the original article in Afrikaans on Die Vryburger

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