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Business and Finance
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Ex-Denel chairperson, former CEO in court on corruption charges


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  Two officials from state arms manufacturer Denel appeared in the Pretoria Specialised Commercial Crime Court on Friday on multiple counts of corruption for their alleged involvement in the irregular approval and establishment of the Denel Asia joint venture.

The article from News24 reports that Daniel Mantsha, the former chairperson of Denel, and his wife, along with former CEO of Denel Land Systems, Zwelakhe Ntshepe, appeared in the Pretoria Specialised Commercial Crimes Court on charges of corruption. They are accused of defrauding Denel of over R11 million through a scheme involving the creation of a fake company, which was used to siphon funds from Denel. The charges include fraud, corruption, and money laundering. The case has been postponed to April 10 for further investigation, and the accused were released on bail. This legal action follows an investigation by Denel's internal audit and the Special Investigating Unit (SIU), highlighting significant governance and financial oversight issues within the state-owned defense company.

Read the Full News24 Article at:
[ https://www.news24.com/news24/southafrica/news/ex-denel-chairperson-former-ceo-in-court-on-corruption-charges-20250328 ]

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