Denel cannot pay staff pensions and UIF

08 May 2020 - 05:10Denel, the state-owned arms maker that received a R2bn government bailout in 2019, has told its staff that it cannot pay their April pensions, taxes and unemployment insurance fund contributions due to cash-flow problems.

In a letter to staff, obtained by Business Day, Denel CEO Danie du Toit said the parastatal could run into a cash crunch in the next six months and paying salaries could become more difficult in future.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

LindoXulu Close it down

I smell a rat!!! Again!!!! What the hell. Please appoint somebody that can actually manage a company this size. This is totally unacceptable.

deptoflabour UIC cables in alberton south , workers are unpaid for months and up to now they haven't received UIF ,how BBBEE works with IDC ,looting the tax the can't pay rent ,now the property is for sale. 800 million

LaurieAClaase Hahaha Big surprise !! Another previously hugely internationally respected institution driven into the ground by bad management - and guess all the employees blindly voted for the ANC since 1994. Great pay back - but the connected there must have gotten rich ?

Here we go again....

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