Mail & Guardian
Mail & Guardian
egyptian navylatest news & developments
Besides the loss of much-needed revenue for Denel, the cancellation could signal severe reputational harm as the company is eyeing R12-billion worth of work in the coming months. (Dean Hutton/Bloomberg via Getty Images)
ARMAMENTS

Bank guarantees foil Denel’s R4.5-bn Egypt contract

Loss of work is the last thing the beleaguered state enterprise needs

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