Public Enterprises Minister Pravin Gordhan says that if money has been stolen from Denel it must be recovered and those responsible must be held accountable.
The minister was speaking at a briefing in Centurion on Monday where he announced a new board of the state-owned company, which has suffered severe liquidity challenges.
Former Airports Company South Africa (Acsa) chief executive Monhla Hlahla has been appointed as the new board chairperson.
Gordhan says part of the board’s responsibilities is to address the effects of state capture.
“It’s time to now ask the question: where is the money, follow the money and how do we go about recovering it? If you’re a recipient of the proceeds of crime, then you’ve some accountability.”
Hlahla says it will take at least four months to fully understand the business.
“Getting to understand what the core business of Denel is about, understanding all the issues that the minister has articulated well and understanding all the issues that the press has written about.”
The board’s appointment will be formalised at the next Cabinet meeting.