Denel’s turnaround plan is making progress, but not as fast as hoped

Denel, the State-owned defence industrial group, on Wednesday briefed Parliament’s Standing Committee on Appropriations about, among other issues, progress with its turnaround plan. This was initiated in 2022 and has three pillars, namely Stabilise, Sustain and Grow. Stabilise encompasses the securing of shareholder (government) funding, the finalisation and formal implementation of the Section 189 staff retrenchment process, and the right-sizing of the group’s resources and facilities (relative to orders) and the securing of critical skills for high probability opportunities.

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