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Free AccessState Arms Firm Denel Outlines Overhaul Framework, Sells Non-Core Assets
- S. AFRICA'S DENEL TO CUT OPERATING UNITS TO TWO FROM SIX
- S. AFRICA'S DENEL INSTITUTES FIVE-YEAR PLAN WITH STATE SUPPORT
- DENEL PLANS SALE OF NON-CORE ASSETS; EXPECTS TO RAISE ZAR1.5B
- Denel is SA's ailing state owned arms manufacturer that has been struggling to remain solvent in recent years - causing a drag on the fiscus. Efforts to reform Denel have been slow and cumbersome.
- Neverhteless, this eems like a positive overhaul for Denel, with a better structure and leaner asset base.
- willingness to sell non-core assets in SOEs is encouraging in terms of trimming dead weight. As ever, however, we will need to see followthrough on implementation
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.