BizNews BizNews Radio

How the Gupta's hijacked arms manufacturer Denel

Loading player...
State arms manufacturer Denel went from a financial position of hundreds of millions in profit, a mere seven years ago, to technically insolvent today. It can't pay staff and its electricity was recently disconnected by the Tshwane municipality for being R2.4m in arrears. What helped push this state-owned entity to the brink of collapse was the capturing of its board in 2015 by the Gupta enterprise, assisted to an extraordinary degree by former Public Enterprises Minister Malusi Gigaba and his successor Lynne Brown. Michael Appel provides a digestible summary of part II of Zondo's second report. Learn more about your ad choices. Visit megaphone.fm/adchoices
14 Feb 2022 5AM English South Africa Investing · Business News

Other recent episodes

Neal Froneman on his bid to bring Formula One back to South Africa

He turned around mines others had written off and built Sibanye-Stillwater into a global giant. Now Neal Froneman wants to bring Formula One back to South Africa, on 600 hectares of Swartland farmland rather than at Kyalami. In conversation with Alec Hogg, the Blue Mountain Racing chairman explained why he…
27 Sep 11AM 43 min

Helen Zille on Joburg, coalitions and the price of power

She said she hadn't exchanged a single word with the ANC about a post-election deal. Helen Zille then told Alec Hogg who she thought was talking to them. The DA's Johannesburg mayoral candidate took on Corné Mulder's claim of a backdoor ANC pact and compared Gayton McKenzie's Patriotic Alliance to…
25 Sep 12PM 34 min

Why Jakkie Cilliers (ISS) guarantees Africa in 2050 will be far more stable than today

At a time when news headlines across Africa highlight political friction, economic distress and security concerns, a guarantee of better times ahead may sound almost provocatively optimistic. Yet Dr Jakkie Cilliers, founder of the Institute for Security Studies and head of its African Futures and Innovation Programme, bases that guarantee…
25 Sep 5AM 35 min

Andy Calitz on Eskom, the job he didn't get, and what came next

He was on the shortlist to run Eskom and lost out to André de Ruyter. Years later, Andy Calitz, who ran South Africa's transmission grid before a career that took him from Shell to Gazprom's control room and the helm of LNG Canada, still thinks about it most weeks. In…
25 Sep 3AM 55 min
All episodes