Top 5 on Fin24: Ramaphosa acknowledges loss of confidence in SOE's, explosive Eskom report, and we calculate the estimated SA price for the iPhone X

Cape Town - In case you missed it, here is a roundup of Thursday's top 5 reads on Fin24

The Ministry of Finance - PIC head Dan Matjila won’t be axed

The Ministry of Finance on Thursday dismissed reports that a Public Investment Corporation board meeting on Friday will resolve to remove its chief executive, Dan Matjila.

The PIC, which manages R1.87trn of investments in South Africa as well as funds on behalf of the Government Employees Pension Fund, has been seen as a target for state capture.

While a source told Fin24 on Thursday that a plot to remove Matjila started about three months ago, Deputy Finance Minister Sfiso Buthelezi said there is no truth to the allegations.

• READ: Finance Ministry slams PIC reports, says Guptas used as smokescree

Fin24 calculates iPhone X’s estimated local price 

If past iPhone releases and associated costs are a guide, the new iPhone X which Apple is hyping as the "future of the smartphone" could cost over R18 000 when it arrives on South African shores, based on Fin24 calculations.

• READ: What SA can expect to pay for new era iPhone 

Ramaphosa: Public has lost confidence in SOEs

Deputy President Cyril Ramaphosa acknowledged this week that the South African public has lost confidence in some big state-owned enterprises.

Ramaphosa was answering questions related to the economy in the National Council of Provinces on Wednesday.

“We know the public has lost a lot of confidence in many SOEs because of many things happening therein,” he said. 

• READ: Ramaphosa: Public has lost confidence in SOE

How consultants ripped R1.6bn from Eskom – and planned to take R7.8bn more

Global consultants McKinsey and their local Gupta-linked counterpart Trillian extracted R1.6bn in fees for “turnaround” advice given to Eskom.

In this investigation amaBhungane and Scorpio delve into an explosive report that says Eskom ignored warnings that the proposed contract might be illegal, and reveal internal documents detailing how McKinsey and Trillian planned their multi-billion-rand payday.

• READ: How consultants ripped R1.6bn from Eskom – and planned to take R7.8bn mor

Gupta mine is hell, say workers 

Workers will march against poor working condition at the Gupta-family's Shiva Uranium mine in Klerksdorp on Thursday, claiming that they are being exploited.

Workers at the Shiva Uranium Mine have described labour conditions at the mine as "pure hell", as they embark on labour action.

• READ: Gupta mine is hell, say workers as they prepare to march

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