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Denel suspends its chief financial officer

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Arms manufacturer, Denel has confirmed that it has suspended its Chief Financial Officer, Odwa Mhlwana. The suspension is pending a disciplinary process into serious allegations of misconduct against him.

Denel was embroiled in corruption allegations involving the Gupta brothers, and has been grappling with a liquidity crisis which meant it struggled to pay wages in December.

Company spokesperson Vuyelwa Qinga says the Board has been approached by various whistle-blowers presenting a number of allegations of serious misconduct against Mhlwana and a few other senior employees of Denel.

“One of the organisation providing information is Solidarity which is one our main union in the company. The board since it was appointed because a lot of people saw it as bringing in change, a new dawn a lot of people felt that it was an opportune time for them to come forward with whatever that they know.”

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