Denel employees to get full salaries after two years

File: Defence company Denel. www.denel.co.za

JOHANNESBURG - All outstanding salaries have been fully paid to Denel employees who have not received a full salary in two years.

The company says it spent R318-million from funds coming from its medical aid benefit trust.

READ: Denel | Workers call on govt to assist with delayed salary payments

It says it took two years for the company to unlock the funds and that included court processes.

It contained a surplus of over R1.4-trillion.

READ: Denel workers take salary woes to Dept of Public Enterprises

Denel received R992-million from the surplus in July and the bulk of the funds were used to run operations, most of which would be used for working capital, including future salaries.

The company now has in the region of R600-million for operational capital.

Denel says it's aware the funds can only go so far.

Source
eNCA

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