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05 July 2023 - Immediate Press Release - Armscor Responds To CEO Allegations

The Armaments Corporation of South Africa (Armscor) Board responded to allegations against the CEO, Advocate Solomzi Mbada, published in a newspaper on July 2nd. The Board reviewed all documents related to claims of fraud and sexual misconduct against the CEO but found no substance to the allegations. As an employee, the CEO's rights are protected by his employment contract. The Board reassured stakeholders that Armscor remains committed to accountability and high ethical standards.

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590 views1 page

05 July 2023 - Immediate Press Release - Armscor Responds To CEO Allegations

The Armaments Corporation of South Africa (Armscor) Board responded to allegations against the CEO, Advocate Solomzi Mbada, published in a newspaper on July 2nd. The Board reviewed all documents related to claims of fraud and sexual misconduct against the CEO but found no substance to the allegations. As an employee, the CEO's rights are protected by his employment contract. The Board reassured stakeholders that Armscor remains committed to accountability and high ethical standards.

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CityPress
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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MEDIA RELEASE

Immediate release
05 July 2023

Armscor Board Responds to Allegations against the CEO

The Armaments Corporation of South Africa SOC Ltd (Armscor) wishes to respond to an
article published in the City Press Newspaper on 02 July 2023, with the headline “Armscor
CEO accused of fraud and sexual misconduct”.

At a special sitting today, the Armscor Board considered the allegations levelled against the
Chief Executive Officer (CEO), Advocate Solomzi Mbada. Having reviewed all documents, the
Board did not find any substance to these allegations. As an employee, the rights of the CEO
are protected within the ambit of his contract of employment at Armscor.

The Board wishes to reassure its stakeholders that the organisation remains committed to
entrenching a culture of accountability and high ethical standards.

END

ENQUIRIES
Dr. Phillip Dexter
Chairperson: Armscor Board of Directors

Issued by Armscor Corporate Communication


E-mail: [email protected]
Telephone: 012 428 1911

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