The decline of Denel would compromise South Africa’s strategic independence, says chief restructuring officer (CRO) Riaz Saloojee, making the ... timely disbursal of the R3.4bn ($196m) lifeline thrown to the entity critical.
Headquartered in Copenhagen, Denmark, Maersk is a logistics company that deals in shipping, terminals and towage, logistics and services, and supply chain management, as well as air freight.
Maersk’s geographic footprint encompasses Africa, the Americas, Asia and Europe.
In Africa, Maersk has subsidiaries in South Africa, Angola and Nigeria. The group operates in 50 ports on the continent.
The past year was one of mixed fortunes, defined by contrasting performances in the first and second half. “As the pandemic spread, it had an impact on volumes being shipped in the second quarter,” says David Williams, the Maersk managing director for the Africa region.