SA’s Denel plans to dispose businesses for $10.8 mln
Monday, 09 September 2019 18:12
South Africa’s defense company plans to mobilize R160 million ($10.8 million) in Q3 FY2019-20 through the sale of shares it holds in many businesses.
The State-owned equipment manufacturer has already started the procedure to dispose 30% stake in Hensoldt Optronics, a producer of high-tech optics. Process completion is now subject to approval by the South African government.
Denel is also selling shares held in PMP, a small-caliber ammunition unit; and 51% stake in armored vehicle company LMT. These initiatives could save the company up to R70 million.
Struggling Denel plans to recover and strengthen its capital in the coming years through the reduction in personnel costs and the coming divestment of other assets.
Chamberline Moko
Live News
-
Basel AML Index Maps Africa’s Highest and Lowest Money-Laundering Risks in 2025
12:37
-
Liberia Secures $124mln U.S. Partnership to Reinforce Its Health System
12:06
-
Global South Alliance Unveils New Grants to Study Datafication’s Democratic Effects
09:51
-
SA’s Community Wolf Buys Namola to Strengthen Emergency Response Network
09:43
-
Lagos Startup Wins 3MTT Regional Hackathon With Neurodiversity Learning Tool
09:42
-
Mali Targets Stronger Infrastructure Protection With 2026–2030 Cyber Plan
06:27
-
UK, Chinese Firms Line Up for Uganda’s Orom-Cross Graphite
06:24
-
Cameroon’s Leasing Margins Plunge 73.6% as Sector Activity Slows Sharply
16:53
-
Cameroon’s Mobile Money Industry Accelerates, Topping CFA135.84bn
16:50
-
Officials Reveal Rice Project on Track to Slash Import Bill and Meet Local Demand
15:19
Omer-Decugis & Cie acquired 100% of Côte d’Ivoire–based Vergers du Bandama. Vergers du Band...
Eritrea faces some of the Horn of Africa’s deepest infrastructure and climate-resilience gaps, lim...
Huaxin's $100M Balaka plant localizes clinker production, saving Malawi $50M yearly in f...
Nigeria seeks Boeing-Cranfield partnership to build national aircraft MRO centre Project aims t...
BCEAO keeps key lending rate at 3.25% and marginal rate at 5.25%. UEMOA growth reaches 6.6%...
DRC, Chad, and Equatorial Guinea rank as Africa’s most exposed countries in 2025 Only Botswana, Seychelles, and Mauritius fall into the low-risk...
Five-year agreement aims to improve disease surveillance, labs, supply chains, and workforce Liberia becomes first in West Africa to enter this type of...
Mali approves its first fully coordinated national cybersecurity strategy. The country ranks Tier 4/5 on the ITU Global Cybersecurity Index,...
Orom-Cross plans to produce 20,000 tons of graphite annually in Phase 1, with $40 million in startup capital. Blencowe Resources signed a new...
Cameroon’s REPACI film festival returns Dec. 11-13 with 135 short films Events include screenings, masterclasses, panels on social cinema and...
Cidade Velha, formerly known as Ribeira Grande, holds a distinctive place in the history of Cape Verde and, more broadly, in the history of the Atlantic...