Today our guest is Political Analyst Dr Ntsikelelo Breakfast
- according to the State Capture Commission chaired by Deputy Chief Justice Raymond Zondo, Former Denel chair Daniel Mantsha and other members of the 2015 Denel board played a critical role in helping to capture Denel for the Guptas.
- Part 2 of the Zondo report released on Tuesday says Denel, was under capable management in the form of CEO Riaz Saloojee, chief financial officer Fikile Mhlontlo and company secretary Elizabeth Africa, but they were removed by Mantsha, a former attorney struck off the roll for misconduct.
- The report says Those who supported Mantsha in his efforts to suspend the three directors who stood in the way of the Gupta’s capture of Denel are unfit to be directors of a company.
- It recommends law enforcement agencies investigate possible breaches of the Public Finance Management Act with a view to prosecuting the board directors during this period.
- Two forms of abuse were noted: interfering in board composition to violate the Companies Act and other laws; and, suspending executives for improper purposes.
- The recommended penalties include a fine of R200 million or imprisonment for up to 20 years, or both.