Gigaba publicly reiterates opposition to Denel joint venture
Finance Minister Malusi Gigaba has publicly stated his opposition to Denel’s joint venture with VR Laser Asia. Commenting on Gigaba’s meetings with Denel chairman Daniel Mantshe, National Treasury said in a statement released on Friday: "At the meeting, Minister Gigaba reiterated his opposition to the joint venture with VR Laser Asia given the fragile financial situation that Denel is in." It added that the minister invited Denel to withdraw its litigation against Treasury. "The position of the minister of finance has not changed in this regard. He remains opposed to the transaction for reasons stated elaborately in the National Treasury affidavit to court."