Cash-strapped Denel seeks further state funding
The government decision on whether to allocate more funding to Denel will be known in the budget
06 February 2022 - 19:39
The decision on whether state-owned arms manufacturer Denel will receive additional state funding will be announced in the upcoming budget, the National Treasury says.
The request for additional state assistance comes as the firm battles through a liquidity crunch, which caused it to miss payments on its loans at the end of January as well as the suspension of its bonds by the JSE last Wednesday due to the failure of the firm to timeously submit annual financial statements in line with JSE requirements...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.