- Public Enterprises Minister Pravin Gordhan says that if money has been stolen from Denel it must be recovered
- Speaking at a briefing in Centurion on Monday , Gordhan announced a new board of the state-owned company, which has suffered severe liquidity challenges
- The board’s appointment will be formalised at the next Cabinet meeting
Public Enterprises Minister Pravin Gordhan said that money stolen from Denel must be recovered, and the people who benefitted from the corruption must be held accountable.
Former Airports Company South Africa (Acsa) chief executive Monhla Hlahla has been appointed as the new board chairperson of Denel, following corruption and state capture at the state-owned enterprise.
The board's responsibility is now to rectify the effects of corruption and state capture on the company, Briefly.co.za understands.
“It’s time to now ask the question: where is the money, follow the money and how do we go about recovering it? If you’re a recipient of the proceeds of crime, then you’ve some accountability,” Gordhan said.
Monhla Hlahla said it will take a minimum of four months to learn about the business and begin the process of rehabilitating it.
“Getting to understand what the core business of Denel is about, understanding all the issues that the minister has articulated well and understanding all the issues that the press has written about,” Hlahla said.
The board’s appointment will be formalised at the next Cabinet meeting.
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