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Mkhatini added that the situation would not likely be resolved soon: ‘As the company’s liquidity status worsen (sic), the payment of salaries for the upcoming months will continue to be a challenge to honour.’
He appealed for ‘extra ordinary understanding and continuous support as we navigate through the unprecedented storm’.
Denel is South Africa’s state-owned armaments firm, and has been beset by financial troubles for some time. Staff have had to accept only a portion of their salaries for a year; the last full payment was in May 2020.
Public enterprises minister Pravin Gordhan recently pointed out that Denel owed its employees some R500m in salaries. ‘The business has subsequently experienced a loss of critical skills to both domestic and foreign companies,’ he said.
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