Gordhan denies plans to sell Denel stake to Saudi Arabia | Fin24
In partnership with
  • Another VAT hike?

    Absa warns that govt may again announce an increase in value added tax in next month's Budget.

  • SA Revenue Service

    The tax agency says a unit that tackles illicit financial flows has recovered R2.6bn since April 2019.

  • State Capture Inquiry

    Former Eskom chairperson Zola Tsotsi says Tony Gupta threatened to have him removed.


Gordhan denies plans to sell Denel stake to Saudi Arabia

Jan 21 2019 15:45
Khulekani Magubane, Fin24

JOHANNESBURG, SOUTH AFRICA NOVEMBER 12: Public Enterprises Minister Pravin Gordhan at ZondoÂ?s commission of inquiry into state capture on November 12, 2018 in Johannesburg, South Africa. Testifying at the inquiry, former public enterprises minister Barbara Hogan revealed that the ANC and its alliance partner ANCYL, attacked her as they pushed for the beleaguered Simphiwe Gama to be appointed Transnet CEO. (Photo by Gallo Images / Business Day / Alon Skuy)

Related Articles

BMF to meet Denel over white CEO, before considering legal action

Denel defends appointment of white male CEO as 'top candidate'

SAAB Medav's Danie du Toit appointed as new Denel boss

Denel suffers over R1.7bn loss, expects more in future


Minister of Public Enterprises Pravin Gordhan has denied speculation that South Africa plans to sell shares in state-owned arms company Denel to Saudi Arabia.

Inkatha Freedom Party MP Narend Singh asked the minister of public enterprises in a Parliamentary question about SA’s relationship with Saudi Arabia in relation to the latter’s human rights track record, Denel’s sale of arms to the Saudi government, and reports that the Saudis were interested in acquiring a stake in the arms manufacturer.

"In light of the government’s commitment and undertaking not to sell weaponry to countries which perpetrate or perpetuate war crimes, human rights abuses and violations, what are the reasons that the Republic, through its own state-owned enterprise, Denel, continues to be an armaments partner supplying weaponry to Saudi Arabia?" he asked. 

Singh also wanted to know whether the government was considering selling Denel to Saudi Arabia, and whether he could see a detailed bid from that country.

Saudi Arabia has been fighting in Yemen since 2015. According to Amnesty International all sides in the war have carried out war crimes, with the Saudi-led coalition bombing civilian infrastructure and carrying out "indiscriminate attacks, killing and injuring civilians". 

While Gordhan said additional information would have to be sought from Denel around the reasons it sells arms to Saudi Arabia, there were no plans to sell shares in Denel to the Saudis.

"There is no proposal from the country in question under consideration. Should government decide to reduce or relinquish its shareholding in any state-owned company under the authority of the Department of Public Enterprises, this will be done through a transparent, public process," Gordhan said.

denel  |  pravin gordhan  |  saudi arabia  |  parliament


Company Snapshot

Voting Booth

How concerned are you about ransomware attacks?

Previous results · Suggest a vote