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Top 5 on Fin24: First look at Mandela Centenary coins and notes, Business confidence down and Deloitte reviewing summons over Steinhoff audit

Jun 13 2018 20:30

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

PICS: First look at Mandela Centenary coins and notes

Nelson Mandela


The South African Reserve Bank (SARB) has released the designs of its commemorative banknotes and coins of Nelson Mandela’s birth centenary, ahead of the launch on July 13.

Although the designs were intended to be confidential, there have been breaches, and some of the designs have been circulating on social media, the SARB said.

Top ten defaulting councils share financial horror stories


Spiralling debt, compounded revenue losses, a chain of non-payment and 'ghost vending' – these were just a few of the issues listed when Parliament's Standing Committee on Public Accounts heard from the municipalities not paying their debts to Eskom.

The top ten defaulting councils were in the hot seat before Scopa on Wednesday morning, explaining why they continually failed to settle their debts to the embattled power utility.

Business confidence down on Ramaphoria reality check

President Cyril Ramaphosa launches the Youth Emplo


Business confidence in South Africa has deteriorated in the second quarter of 2018, according to the latest RMB/BER Business Confidence Index (BCI) released on Wednesday.

After surging from 34 to 45 points in the first quarter, the BCI went down to 39 in the second quarter of 2018

Ramaphosa to file affidavit for Moyane inquiry on Wednesday

Suspended SARS commissioner Tom Moyane. (Photo: Fi


President Cyril Ramaphosa will on Wednesday file an affidavit to substantiate the case against Tom Moyane, whom he suspended as commissioner of the South African Revenue Service (SARS), his spokesperson said.

Ramaphosa had missed the Friday deadline to submit the document, causing major discontent from Moyane’s legal representative.

Deloitte reviewing summons over Steinhoff audit


The Deloitte branch in the Netherlands has received a writ of summons from Dutch investor group, the VEB, over its audit of Steinhoff, and is currently reviewing the document, according to Lwazi Bam, CEO of Deloitte Africa.

Bam added in an emailed response that Deloitte Netherlands had indicated it would not provide any further comment.

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