• Change of culture needed

    The right leadership will help SA shed its culture of violence, says Mandi Smallhorne.

  • 10 tips to find bargains

    Susan Erasmus gives advice on how bargain hunters can get the most bang for their buck.

  • Inside Labour

    Labour's bitter breaches need to be seen in historical context, says Terry Bell.

Loading...
See More

Arms deal value under review

May 15 2012 12:56 Sapa

Related Articles

DA: DTI concedes over arms deal offsets

Canned deal: Armscor gets back R9.1bn

BHP coal arm, Nhleko in BEE deal

Arms commission to have subpoena powers

Judges named for arms deal probe

Qatari royals in Dexia rescue deal

 

Johannesburg - A review of the actual economic value generated by strategic defence procurement projects would be completed during the current financial year, The Star reported on Tuesday.

Trade and Industry Minister Rob Davies told parliament that all national industrial participation programmes were being assessed.

According to The Star he acknowledged that usual departmental practice had been widely flouted when calculating offset credits to arms deal contractors.

Davies was responding to a question by Democratic Alliance defence spokesperson David Maynier.

According to the newspaper, Davies said the lion's share of arms deal offsets were approved as package deals. They were not measured against the actual economic performance of the companies' investments in the economy.

Maynier said afterwards the outcome of the review might give an understanding of the "full horror or the arms deal offset rip-off".

rob davies  |  arms deal

 
 
 

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
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 
 

20 self-made teenage millionaires

From selling lemonade to building webpages, these young entrepreneurs made a pretty fortune!

 
 

Luxury living

Top 10 richest musicians of all time
10 most expensive cars In the world
10 of the most expensive things that will leave your jaw hanging!
Seven of the most expensive children's toys ever made

Money Clinic

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

Voting Booth

How do you see your boss? He/sheis:

Previous results · Suggest a vote

Loading...