Denel appoints Carmen Le Grange as new chief financial officer

SOUTH AFRICA – South Africa’s state defence firm Denel appointeds Carmen Le Grange new finance chief saying she will help improve its culture of corporate governance and return to profitability. This comes ten months after firing the previous CFO, Odwa Mhlwana, after he was found guilty of all disciplinary charges relating to irregular expenditure. At the time the company appointed Wim de Klerk, former CEO of ArcelorMittal SA as acting CFO, while it started the process of finding a permanent replacement. In her new position, Le Grange will oversee the…

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South Africa’s Denel receives US$118.7m funding to boost operations

SOUTH AFRICA – Denel, a stated-owned arms manufacturer, has received $118.7 million from the government to help it stay afloat while it develops a long-term survival strategy, reports Business Live. Government’s decision to recapitalise Denel will contribute to the comprehensive turnaround of the defence and technology company and help to create a sustainable asset for South Africa. In a statement, the company’s chief executive Danie du Toit said; “We are grateful for the unwavering support that we receive from our shareholder, the government, and the National Treasury,” “It demonstrates a…

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