• Caught in the debt trap?

    Help us help you by taking our second annual Debt survey and you could win R3 000.

  • Rich man, poor man

    Culture change from below is the only way to overcome poverty, says Leopold Scholtz.

  • Tech bubble talk

    After the tech euphoria of 2013, the fast-moving sector has hit a speed bump.

Data provided by McGregor BFA
All data is delayed
Loading...
See More

Arms group admits to SA bribes

Jun 17 2011 06:45 Sapa-AFP

Related Articles

Arms deal court case delayed

Saab to boost Sekunjalo cash flow

SA sold R70m worth of weapons to Libya

Business as usual at Denel Saab

SA arms deal to cost R70bn: report

Saab 'can still be saved'

 
Stockholm - Swedish defence group Saab on Thursday admitted that millions were paid to clinch a South African contract for fighter jets but said its erstwhile British partner BAE Systems had paid the bribes.

Saab said R24m had been paid by BAE in the form of bonuses and salaries between 2003 and 2005 for the deal involving 26 JAS Gripen fighters.

The comments came after Sweden's TV4 television channel said it had evidence Saab had promised to pay Fana Hlongwane, then advisor to the South African defence minister and also serving as a consultant to the Swedish firm, millions of euros in bonuses if Pretoria did not back out of the Gripen deal.

Saab said R24m had been paid by its South African subsidiary Sanip, which was then controlled by BAE Systems.

Saab president and chief executive Haakan Bushke denied responsibility saying in a statement: "A person employed by BAE systems has without Saab's knowledge signed for us an unknown contract, signed for us up until now unknown transactions..."

BAE Systems said last week it had sold its stake in Saab for £152m.

The 1999 deal with South Africa provided for the sale of 28 jets for €1.6bn but this was later whittled down to 26. The last plane is due to be delivered next year.
bae  |  saab  |  arms deal  |  corruption  |  bribes

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
9 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

Tight security in Manenberg for Mthethwa

There has been a heavy police presence in the gang hotspot of Manenberg in Cape Town ahead of the arrival of Police Minister Nathi Mthethwa.

 
 

Latest elections multimedia

Watch what happened when we blindfolded Helen Zille and asked her to eat random things
13 days to elections - news you need to know
11 Julius Malema quotes you'll never forget
DA won't get 30% - Zille

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...