Picture: Siphiwe Sibeko/Reuters/African News Agency (ANA) Archives
Picture: Siphiwe Sibeko/Reuters/African News Agency (ANA) Archives

LIVE FEED: State Capture Inquiry - October 26, 2020

By IOL Reporter, Zintle Mahlati Time of article published Oct 26, 2020

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Johannesburg - The Zondo is hearing Denel-related evidence on Monday.

Former Denel board member Nonyameko Mandindi and the board's current chairperson Monhla Hlahla are expected to take the stand and give testimony.

The commision last heard Denel-related evidence in March 2019 when former CEO of Riaz Saloojee appeared.

He said that he was fired over his refusal to cooperate with the Guptas and their desire to capture Denel.

Saloojee has told the commission about the months preceding his firing in April 2016.

WATCH FEED HERE

Former public enterprises minister Lynne Brown appointed a new board for arms manufacturer Denel in July 2015, she kept just one member of the old board.

The complete overhaul of the old board, which had done well, was a shock to many.

Saloojee said quickly after the new board took over, its risk committee had started raising questions about an LSS deal that was signed and approved by the previous board. He said the deal was above board and followed proper processes.

He said while he was at a defence fair in London in September 2015 he was told by the board chairperson Daniel Mantsha that the risk committee was still concerned about the LSS deal.

When they returned, Saloojee said he along with company secretary Elizabeth Africa and chief financial officer Fikile Mlhontlo were asked to give reasons within 24 hours why they should not be suspended in relation to the LSS deal.

Saloojee said the process was rushed and at the end, the three were given an option of being paid three months salary if they resign. Saloojee said they declined the offer.

The board immediately placed them on suspension.

IOL

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