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Cape Town - In case you missed it, here is a roundup of Wednesday's top 5 reads on Fin24:
Parliament calls first witnesses for Eskom inquiry
Parliament’s inquiry into Eskom is set to begin next Tuesday with the first witnesses giving evidence.
“The Portfolio Committee on Public Enterprises today met in a closed meeting to discuss the inquiry process on Eskom with the evidence leader,” Parliament said in a statement.
The committee, which includes former Finance Minister Pravin Gordhan, said it had decided to not publicise the names of the witnesses "for security reasons".
READ: Parliament calls first witnesses for Eskom inquiry
The McKinsey Dossier, Part 4
In its latest joint investigation into Trillian, Eskom and McKinsey, investigative reporting outfits amaBhungane and Scorpio show how Eskom's suspended chief financial officer Anoj Singh and his management team stand accused of bending over backwards to get Trillian its payday, sometimes bullying mid-level officials into fabricating documents.
READ: The McKinsey Dossier, Part 4 – Bending over backwards for Trillian
Questions over proposed massive new state pension fund
Concerns that politicians view the Public Investment Corporation as a cash cow will loom large over discussions to establish an a new overarching pension fund for South Africa.
The new fund - the National Social Security Fund - wants to consolidate the more than 5 000 public and private retirement funds into one giant mandatory institution, possibly under government control.
It will centralise current retirement funds estimated to be worth R3trn, and aims to force South Africans to save for retirement, as well as cross-subsidising lower income earners.
READ: PIC looting concerns raise red flags for proposed state pension fund
Gigaba orders forensic audit of PIC
Finance Minister Malusi Gigaba has ordered a forensic audit of the all the Public Investment Corporation's investments for the past two years.
In a letter written to his deputy Sfiso Buthelezi, the chairperson of the PIC Gigaba requested that the audit be carried out by a “reputable independent forensic company”.
READ: Gigaba orders forensic audit of PIC
Rand to rebound?
Analysts at Rand Merchant Bank and ING Groep predict that the rand, the second-worst emerging-market performer in the past month, will rebound against the dollar by year-end.
READ: Rand will rebound against dollar by end of 2017 - analysts
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