‘SAUDIS IN­TER­ESTED IN STAKE IN DENEL’

Pretoria News - - Metro -

SAUDI Ara­bia has ap­proached South Africa about tak­ing a stake in strug­gling state-owned de­fence firm Denel, For­eign Af­fairs Min­is­ter Lindiwe Sisulu con­firmed yes­ter­day.

“There have been over­tures by Saudi Ara­bia to buy a stake in our ail­ing Denel.

“I do not know what the out­come of those ne­go­ti­a­tions will be when it gets to the NCACC (Na­tional Con­ven­tional Arms Con­trol Com­mit­tee),” she said at a brief­ing.

The com­mit­tee would con­sider the mer­its of the po­ten­tial deal, in­clud­ing hu­man rights con­sid­er­a­tions, she added.

Saudi Ara­bian Mil­i­tary In­dus­tries’ chief ex­ec­u­tive An­dreas Sch­wer said last week that Saudi au­thor­i­ties were in talks about a pos­si­ble stake in Denel.

South Africa’s de­fence in­dus­try once played a ma­jor role in its econ­omy. | Reuters

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