The ANC and its militarist hangers-on just would not listen when it became glaringly evident during the 1994/95 Cameron Commission of Inquiry that Denel could NEVER be economically viable, and that Denel should have been immediately disbanded. The late Joe Modise insisted in Parliament in 1999 that Denel would be the prime beneficiary of the arms deal offset "benefits" amounting to R110 billion.
As predicted, the "benefits" never materialised, and were merely an instrument to pay bribes -- of which Modise's advisor Fana Hlongwane plus the so-called white "greasy brotherhood" at Armscor led by the late Ron Haywood and Llew Swan were the main beneficiaries.
As Andrew Feinstein related in his book After The Party, even Trevor Manuel recognised that Modise was irredeemably corrupt. Modise was a one-time township gangster, Thabo Mbeki however, had depended on Modise's support to become president, and no one in the Cabinet including Manuel had the guts to stand up to Modise or Mbeki.
The late CEO of Denel, Victor Moche told Parliament in 2004 that Armscor had foisted the DIP contracts onto Denel, which was losing money on 80% of them. Moche was fired by Alec Erwin (by then Minister of Public Enterprises) within three months for his honesty but indiscretion.
Just when will the current minister Pravin Gordhan stop pouring public money down that Denel drain?
South Africa is now in desperate straits because of the corruption that Modise, Mbeki, Erwin, Manuel and Siqcau inflicted on this country. President Cyril Ramaphosa and Gordhan: have you no balls or the guts to put Denel into liquidation?
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