Share

Top5 on Fin24: Ex-Eskom exec testifies about 'brazen theft', Gigaba meets World Bank, and bird flu down in Western Cape

Cape Town - Wednesday's top economic and finance reads.

Payments to Trillian and McKinsey 'brazen theft'- Daniels

Payments made by Eskom to Gupta-linked Trillian and international consultants McKinsey amounted to “brazen theft”, Eskom's suspended head of legal Suzanne Daniels told the Eskom inquiry in Parliament.  

“In my view, based on what I know and what I have discovered, there is only one way to describe this to the people of SA, this was brazen theft,” she said. 

“The people implicated, and who I identify as thieves [are] Matshela Koko, Anoj Singh, Edwin Mabelane and Charles Kalima," she claimed. 

Follow the inquiry's progress as it happened with updates from the Fin24 team. 

READ: Payments to Trillian and McKinsey 'brazen theft'- Daniels

#ParadisePapers: The rich may be richer than you thought

A new set of data taken from an offshore law firm again threatens to expose the hidden wealth of individuals and show how corporations, hedge funds and others may have skirted taxes.

A year after the Panama Papers, a massive leak of confidential information from the Bermuda law firm Appleby Group Services has shone another light on the use of offshore accounts.

Read the highlights so far of the reporting by the International Consortium of Investigative Journalists and partner news outlets on the so-called Paradise Papers.

READ: #ParadisePapers: The rich may be richer than you thought

Gigaba had meeting with World Bank on Eskom

Finance Minister Malusi Gigaba. (Pic: Gallo Images

Finance Minister Malusi Gigaba met with representatives of the World Bank last week to discuss issues relating to Eskom, according to two people familiar with the meeting.

Gigaba allegedly met with the bank on Friday to discuss funding options available to Eskom, the sources told Bloomberg. They asked not to be identified because the information is not public.

One of the topics that allegedly came up in the meeting was nuclear energy, one of the sources claimed.

South African Airways was apparently also discussed at the meeting, said one of the sources.

READ: Gigaba had meeting with World Bank on Eskom

No new cases of bird flu in Western Cape over past week

The spread of the bird flu virus that has decimated parts the Western Cape's poultry industry may be be slowing down, according to Western Cape Minister of Economic Opportunities Alan Winde.

In a statement on Wednesday Winde said no new cases of bird flu have been reported in the province during the past week.

Almost 3 million commercial poultry birds have been culled in the province since August 9, following an outbreak of highly pathogenic avian influenza. Bird flu was first detected in SA in June this year.

READ: No new cases of bird flu in Western Cape over past week

Katlehong family evicted over home loan arrears of R1 000

More than a thousand people have joined the R60bn court case now before the Constitutional Court on behalf of South Africans evicted by the banks from their homes over the past 20 years.

Ernest Mashaba is one of those who has joined the case. It’s been several months since GroundUp first reported on Mashaba’s case. His home was repossessed by Nedbank, after the bank claimed he fell into arrears on his mortgage loan.

The bank apparently took default judgment against him in 2001, resulting in Mashaba and his family being evicted from the home.

READ: Katlehong family evicted over home loan arrears of R1 000

SUBSCRIBE FOR FREE UPDATE: Get Fin24's top morning business news and opinions in your inbox.

Read Fin24's top stories trending on Twitter:

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
19.15
-0.7%
Rand - Pound
23.82
-0.6%
Rand - Euro
20.39
-0.5%
Rand - Aus dollar
12.30
-0.5%
Rand - Yen
0.12
-0.6%
Platinum
950.40
-0.3%
Palladium
1,028.50
-0.6%
Gold
2,378.37
+0.7%
Silver
28.25
+0.1%
Brent Crude
87.29
-3.1%
Top 40
67,190
+0.4%
All Share
73,271
+0.4%
Resource 10
63,297
-0.1%
Industrial 25
98,419
+0.6%
Financial 15
15,480
+0.6%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders