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Vol 59 No 20

Published 12th October 2018


South Africa

Riyadh to the rescue

The bail-out of the state-owned Denel arms company has diplomatic costs as Pretoria is pulled further into Saudi Arabia’s camp

Officials working on Saudi Arabia's planned US$100 million investment into South Africa's ailing state-owned arms company, Denel, say it could be finalised by the end of the year. The deal follows President Cyril Ramaphosa's meeting with King Salman bin Abdulaziz al Saud and Crown Prince Mohammed bin Salman in Riyadh in July, when a Saudi trade and investment package of at least $10 billion for South Africa was announced.

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