South Africa’s struggling state arms firm Denel suspends CFO

JOHANNESBURG, June 18 (Reuters) – South African state-owned arms manufacturer Denel, which has been struggling to pay salaries to staff, has suspended its chief financial officer Odwa Mhlwana while it conducts a probe into allegations of misconduct by him, the firm said on Monday.

Reforming troubled state-owned entities such as Denel is a top priority for President Cyril Ramaphosa as he strives to put the sluggish economy back on a sustained growth trajectory.

Mhlwana could not be reached for comment.

(Reporting by Alexander Winning Editing by James Macharia)

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2 October 2018

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