Denel, a state arms-maker, requires funding to restructure and save itself.
Thebusinessis crucial to the South African National Defence Force meeting its mandate, according to the Public Enterprises Department.
This happened just three hours after theJohannesburgStock Exchange (JSE) opened.
State arms-maker Denel requires a massive amount of money to restructure and save itself. Image: Denel SocSource: Facebook
At the time of writing this report, the rand was trading at R15.18 to the dollar.
The rand has reached its weakest level since March, according to a report byMoneyweb.
According toSABC News, on Tuesday, trading on the JSE was delayed.
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This was due to the large trading volumes that extended to a record R145 billion.
The trading still needs to be processed.
Source: Briefly News
Reeshni ChettyReeshni Chetty is a senior current affairs reporter.
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Reeshni has a passion for breaking the stigma surrounding mental health issues.
