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Bank bails Denel out amid union demand for action on irregularities

Under Pressure

Creamer Media Senior Deputy Editor
Defence & Aerospace
The spokesperson for Public Enterprises Minister Pravin Gordhan, Adrian Lackay, has clarified to “Engineering News” that the lender who came to the assistance of beleaguered State-owned defence industrial group Denel, allowing it to pay its staff their full salaries for this month, was “a commercial bank in South Africa”. Late last month Denel had announced that it would be paying its employees only 85% of their salaries due to them for June.

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