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  • 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