STATE-OWNED ENTITIES
The wrong questions are being asked about Denel group
Whenever I see an article about Denel such as Terry Crawford-Browne’s letter in Business Day on February 1 (Sound Denel the death knell) my hair stands on end. Having being appointed CEO of Denel in 2005 and now reading articles and opinions about the company’s status, I feel hugely disappointed that much of the great work we did to adjust perceptions and put the business on a solid financial footing has seemingly been destroyed. I say "seemingly", as the real picture is not entirely clear despite Crawford-Browne’s claim that Denel can pay employees only until March. There is no single Denel, often referred to as if it’s one big business, so when everyone refers to "Denel not being able to pay its staff’s salaries", it is fundamentally incorrect. Some of Denel’s subsidiaries and associate companies are cash-positive and their thousands of staff are employed in highly successful businesses. "Denel" should qualify which staff, division or head office could face a salary payment crisis...
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