The board chairman of state-owned arms manufacturer Denel‚ Daniel Mantsha‚ has resigned. Director-general of public enterprises Mogokare Richard Seleke confirmed Mantsha’s resignation on Friday afternoon. “The CEO of Denel [Zwelakhe Ntshepe] has confirmed that its chairperson has resigned. The letter is en route to the department‚” Seleke said. “[Public Enterprises] Minister Pravin Gordhan has convened an urgent meeting on Monday with the outgoing chairperson and CEO of Denel.” Mantsha‚ appointed as chairman in July 2015‚ has been implicated in allegations of state capture at Denel‚ and his tenure has been marked by financial troubles at the state-owned entity. In September 2017‚ the Organisation for Undoing Tax Abuse (Outa) laid charges of corruption against Mantsha for his role in the Denel Asia project‚ an ill-fated joint venture between Denel and Gupta-owned companies to supply arms to the Asian market. “Mantsha’s role was to try to sell this joint venture to the National Treasu...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00.