B riefs usiness

Denel plans to reduce dependence on state

The portfolio committee on public enterprises was this week briefed by Denel on its strategic turnaround plan.

Denel’s chief restructuring officer, Riaz Saloojee, said the strategic intent of the plan was to reduce dependence on the fiscus for the maintenance of critical strategic and sovereign capabilities.

One of Denel’s plans to grow the order pipeline is to secure local orders from other state-owned entities and government departments where Denel has a suitable value proposition.

For example, the supply of ammunition to the police, provincial authorities and the broader security cluster to secure sufficient baseload for Pretoria Metal Pressings to operate more efficiently.