SOUTH AFRICAN STATE-OWNED ARMS MANUFACTURER DENEL SUSPENDS C.F.O.

JOHANNNESBURG– South African State-owned arms manufacturer Denel says it has suspended the company’s chief financial officer, Odwa Mhlwana, for alleged misconduct.

The suspension is pending a disciplinary process into the serious allegations of misconduct, Denel said in a statement here Tuesday.

Denel itself was embroiled in corruption allegations involving the Gupta brothers, whose family are at the centre of allegations of “State Capture”, involving the exercise of undue influence over top figures of State for personal benefit.

The company has also been grappling with a liquidity crisis which caused it to struggle to pay wages in December.

Company spokesperson Vuyelwa Qinga said the Board, totally revamped earlier this year, had been approached by various whistle-blowers presenting a number of allegations of serious misconduct against Mhlwana and a few other senior employees of Denel.

One of the organizations providing information is Solidarity, which is one our main unions in the company. The board, since it was appointed, because a lot of people saw it as bringing in change, a new dawn, a lot of people felt that it was an opportune time for them to come forward with whatever that they know.

Source: NAM NEWS NETWORK

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SOUTH AFRICAN STATE-OWNED ARMS MANUFACTURER DENEL SUSPENDS C.F.O.

JOHANNNESBURG– South African State-owned arms manufacturer Denel says it has suspended the company’s chief financial officer, Odwa Mhlwana, for alleged misconduct.

The suspension is pending a disciplinary process into the serious allegations of misconduct, Denel said in a statement here Tuesday.

Denel itself was embroiled in corruption allegations involving the Gupta brothers, whose family are at the centre of allegations of “State Capture”, involving the exercise of undue influence over top figures of State for personal benefit.

The company has also been grappling with a liquidity crisis which caused it to struggle to pay wages in December.

Company spokesperson Vuyelwa Qinga said the Board, totally revamped earlier this year, had been approached by various whistle-blowers presenting a number of allegations of serious misconduct against Mhlwana and a few other senior employees of Denel.

One of the organizations providing information is Solidarity, which is one our main unions in the company. The board, since it was appointed, because a lot of people saw it as bringing in change, a new dawn, a lot of people felt that it was an opportune time for them to come forward with whatever that they know.

Source: NAM NEWS NETWORK

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