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South Africa’s Denel suffers $130 million loss in 2019/20
South Africa’s state-owned defense firm Denel made a $129.8 million loss in the 2019/20 financial year compared to a $98.2 million loss in the previous year. Denel manufactures military equipment for South Africa’s armed forces, and has been embroiled in a financial crisis made worse by the ongoing coronavirus pandemic. In October, Denel requested for…