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Top 5 on Fin24: Eskom to reopen negotiations with striking workers, Salim Essa bids R70m to 'save' VR Laser and the rand smiles

Jun 14 2018 17:43

Cape Town - A roundup of Thursday's top economic and finance reads on Fin24.

Gordhan likely main deponent in Moyane disciplinary case

Public Enterprise Minister Pravin Gordhan. (Photo:


Minister of Public Enterprises Pravin Gordhan is expected to be the main deponent in the disciplinary case against suspended South African Revenue Service commissioner Tom Moyane.

Moyane's lawyer Eric Mabuza confirmed to News24 that details of charges were sent to him on Thursday.

Eskom to reopen negotiations with striking workers, as it warns of constrained supply

Eskom acting CEO Phakamani Hadebe. (Photo: Netwerk


Eskom CEO Phakamani Hadebe has committed to reopening wage talks with trade unions.

He was booed by workers outside the power utility’s head office at Megawatt Park in Sunninghill on Thursday afternoon, where he received a memorandum during a lunchtime picket.

Rand 'smiling' as it gains 1% against dollar after Fed interest rate hike

The rand strengthened by 0.94% against the dollar in early afternoon trade on Thursday, with economists saying the relative strength was caused by greater market certainty after the US Federal Reserve announced an interest rate hike on Wednesday.

The local unit was trading at R13.18/$ at 13.28 on Thursday, up 0.94% on the day.

EXCLUSIVE: Gupta lieutenant Salim Essa in last gasp R70m bid to 'save' VR Laser

Gupta lieutenant Salim Essa has launched a desperate bid to keep engineering firm VR Laser afloat, with an offer for a R70m cash injection months after the company first ran into financial trouble.

The offer came minutes before creditors for the Boksburg-based engineering company were about to vote for liquidation during a meeting held with business rescue practitioners at a hotel near OR Tambo International Airport on Tuesday. 

SA cryptocurrency launched for rhino horn trade and conservation


Rhino Coin, described by its founders Alexander Wilcocks and Jacques du Randt as a cryptocurrency "with a conscience", has been launched - with the aim of generating a new, untapped source of revenue to aid rhino conservation efforts.

The key motivation behind the cryptocurrency is to save the rhino by trying to create a steady and sustainable source of revenue for rhino conservation, according to Wilcocks and Du Randt.

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