Posts tagged with 'Denel'

 

State-owned Denel has cash flow problems and can only pay workers a portion of their salaries

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Denel said that they could only pay employees 85% of their salaries for the work done in the month of June.

Group Chief Executive Officer, Danie du Toit said in a statement, “The management of Denel is working tirelessly to ensure that delayed portions of salaries will be reimbursed to employees as soon as possible.”

Du Toit says the management of Denel acknowledges the inconvenience caused by the decision, in particular the late communication. However, at the time the decision was made, the company had no alternative but to go this route.

Those staff members who bank with First National Bank will receive 85% of their salaries on Tuesday (June 25) and other employees on Wednesday (June 26).

“Due to ongoing liquidity challenges we are now faced with the unfortunate reality that the company is not in a position to fulfil the 100% salary obligation for June 2019,” Du Toit said.

The statement went on to say that the sh
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Now in charge of solving SA’s jobs crisis: one minister who tried to cover up Nkandla, and one who helped try to sell Denel to the Guptas

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Unemployment is such a critical issue that he was renaming the department of labour, President Cyril Ramaphosa announced on Wednesday – and in name at least, jobs is now the first priority for the minister of employment and labour.

To that post Ramaphosa appointed Thulas Nxesi – who became deeply embroiled in covering up the extent to which then President Jacob Zuma had benefitted from massive state spending on his private residence in Nkandla.

Ramaphosa has made the right noises about the importance of small business and entrepreneurship in boosting the economy, and has acknowledged that small businesses face issues such as red tape that are directly within the control of his administration. The fact that he kept a ministry of small business while downsizing his cabinet drew praise.

As minister of small business, Ramaphosa appointed Ntshavheni Mukwevho, who quietly left the State IT Agency (Sita) considerably richer after allegations of imp
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South Africa in shambles: Did somebody say it’s a “Sh**hole”?

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Mzansi has hit rock bottom and the ANC GOVERNMENT is the cause of this all.

Ok so Municipalities cannot pay salaries, SABC cannot pay salaries and is bankrupt, Denel cannot pay salaries and is bankrupt, Transnet is bankrupt, SARS is running in a minus, SAA cannot pay salaries and is bankrupt, Escom is Bankrupt, Telkom is also going down, SANDF has no more funds and is in shambles, our Government Hospitals don’t even have money for bedding and our whole health system has collapsed, our police force don’t even have vehicles to go out to a crime scene and most of police officers are the actual criminals.

Nearly every minister in the ANC Government has been involved in corruption , bribery and mismanagement of taxpayers funds. Unemployment is the highest it’s ever been in the history of our country, our education dept has run out of funds and crime is out of control.

People have been put into power who earns millions a year but are as dumb as
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BREAKING NEWS:- 44 Companies with more whites workforce facing fine of R1.5m by Department of Labour

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Severe Sanctions will be initiated against companies that are too white in South Africa and defaulters dealt with.

The Department of Labour has started to fine companies which are “too white” according to the Employment Equity Act (EEA).

Affirmative Action, which falls under the EEA, aims to ensure that qualified designated groups – black people, women, and people with disabilities – are equally represented in the workplace.

This law forces employers to makes sure it has the right proportion of designated people – black, coloured, Indian, female, and disabled people – at all levels of an organisation.

In August 2017, the Department of Labour announced a crackdown on companies to ensure that they comply with the act.

At the time the department said six JSE-listed companies had been found to be non-compliant and were referred for prosecution.

Rapport has now reported that the Department of Labour is prosecuting 44
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State-owned arms manufacturer, Denel slammed for appointing a white male as the group chief executive

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The Liberated Metalworkers Union of South Africa (Limusa) on Monday rejected the appointment of Daniel du Toit as the group chief executive of State-owned arms manufacturer, Denel, saying that the minister of public enterprises must implement employment equity recommendations.

The department of public enterprises last month announced Du Toit as the new group chief executive after Cabinet approved the appointment. He is expected to assume duty on January 14, 2019.

This comes after Zwelakhe Ntshepe resigned with immediate effect as Denel chief executive in May after 20 years at the company, citing personal reasons, and was replaced with Michael Kgobe, the chief executive of subsidiary Denel Aeronautics, in an acting capacity.

Siboniso Mdletshe, Limusa general-secretary, said they find it “disgusting and very irresponsible” for a state-owned entity like Denel to ignore the findings of the Hoefyster Employment Equity Compliance Assess
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Can the sinking ship be saved? – Denel’s deterioration is attributed to political appointments made where incompetent people are placed in key positions who have no knowledge of the arms industry, now the state entity has appointment a new Chief Executive Officer

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The Cabinet approved Daniel du Toit’s appointment as Chief Executive Officer at Denel. He will immediately pay attention to superficial contracts entered into during the state hijacking period. Cost cuts will also be one of its priorities.

The arms manufacturer has deteriorated dramatically over recent years due to the political appointments made in top management who lack knowledge of the industry.

The ANC government had to save the industry of total collapse numerous time with financial support, and many contracts entered into resulted in enormous loses.

Read the original article in Afrikaans on Die Vryburger
This report does not necessarily reflects the opinion of SA-news.

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