Photo by: Duane Daws
Finance Minister Pravin Gordhan on Wednesday termed Denel, which is at loggerheads with National Treasury over a joint venture with a company linked to the Gupta family, arrogant and belligerent.
“One of the tendencies that we are noting in recent times is that when boards are beginning to do things that they are not supposed to do, they begin to display a level of arrogance and belligerence that does not befit them and… the board of Denel need to take that message to heart,” Gordhan said as he responded to the debate on his ministry’s budget vote.
Denel and VR Laser formed Denel Asia in January, and has since earned a stinging rebuke from National Treasury for failing to secure executive approval in terms of the Public Finance Management Act.