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Cape Town - In case you missed it, here is a roundup of Wednesday’s top 5 reads on Fin24:
Sasol disbands debt-ridden BEE scheme, launches replacement
In the biggest news on the JSE today, Petrochemical giant Sasol announced it will disband its black economic empowerment scheme Sasol Inzalo when it matures next year. In its place it will launch a new broad-based black economic empowerment scheme, the R21bn Khanyisa empowerment scheme.
But Inzalo shareholders will receive no pay-out, after the scheme was unable to service debt due to low oil prices and lacklustre share performance.
The resulting fall in the price of Sasol’s shares helped pull down the JSE.
Brown’s Eskom investigation inches along
Public Enterprises Minister Lynne Brown is studying Eskom's latest reply to her questions on the power utility's dealings with the Gupta-linked Trillian firm and unethical behaviour surrounding McKinsey.
Her spokesperson Colin Cruywagen confirmed today that Brown on Tuesday night received Eskom's responses to her latest queries, after she had again set a deadline for the state utility on Friday. He said Brown noted Eskom's progress in answering her questions, and she would soon announce more details.
Petrol price hikes nudge up CPI
Consumer inflation has gone up, but slightly below market expectations, following increases in the fuel price.
The country's Consumer Price Index annual inflation rate increased to 4.8% in August from 4.6% in July, Stats SA announced on Wednesday. This after price of petrol increased by 67 cents a litre in September and by 19c in August.
Sandton City parking goes ticketless
Visitors to Sandton City and Mandela Square in Johannesburg can now ditch ticketed parking vouchers for automated payment, which recognises number plates and automatically opens boom gates.
Shoppers who want to use the new parking payment system can download an app or sign up to the admyt system, which will require login credentials and credit card or debit card details.
KPMG's troubles may now impact oil sale report
A probe into South SAfrica's sale of 10 million barrels of crude oil reserves may be delayed after Energy Minister Mmamoloko Kubayi said she has some concerns because a key financial analysis in the investigation was conducted by KPMG.
Kubayi said she wants assurances from the Central Energy Fund (CEF) about the report after KPMG SA became embroiled in a corruption scandal revolving around members of the Gupta family and the 'rogue unit' report it produced for the SA Revenue Service.
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