Denel before capture

Before the Guptas arrived at Denel according to the Zondo commission report released this week: “In the financial year ending 28 February 2015, Denel made a profit of a few million rands and its order book showed substantial growth, reflecting work on hand of some R6bn. Denel was praised in parliament and in the media Denel secured clean and unqualified audits from the Auditor-General.”