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Denel’s fully armored Badger infantry fighting vehicle. The weapons manufacturer is on a total mission to get the Treasury to approve a 10-year deal with Gupta-owned VR Laser Asia, even though Finance Minister Malusi Gigaba ordered the company to freeze it. VR Laser won a lucrative contract for 238 Badger vehicles, called Project Hoefyster, from Denel in November 2013
Former Denel Group CEO Zwelakhe Ntshepe signed a settlement agreement for former CEO Fikile Mhlontlo without reading the document because he trusted his colleagues.
Ntshepe was giving the final part of his testimony before the state’s capture inquiry commission on Wednesday when he explained his role in the firing of the group’s then-CEO, Riaz Saloojee, the group’s chief financial officer, Fikile Mhlontlo, and the secretary of the company, Elizabeth February.
Ntshepe was acting CEO while Saloojee was suspended, he later approved an agreement between Denel Land Systems and Gupta-linked VR Laser to be a sole supplier on infantry fighting vehicle weapons manufacturer Badger’s Hoefyster project.
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