Cape Town – In case you missed it, here is a roundup of Wednesday’s top 5 reads on Fin24.
Former Eskom CEO says he was lured to Gupta meeting
The second day of Parliament’s oversight committee on public enterprises’ inquiry into state capture at power utility Eskom continued on Wednesday.
The committee heard testimony from, among other witnesses, former Eskom CEO Brian Dames, who said he was asked to meet “some people” who turned out to be the Guptas – or linked to the Guptas – by Minister Malusi Gigaba’s adviser Siyabonga Mahlangu.
Get an overview of the day’s events as they happened by reading the live feed from our reporter on site.
Massive SA data breach could stem from credit bureau
Sensitive private information of 30 million South Africans, contained in a massive data breach, appears to have been hacked from a credit bureau.
This is according to Australian Microsoft regional director, Tory Hunt, who exposed the leak on Twitter on Tuesday.
Hunt said on Wednesday that the data breach was “one of the worst I’ve ever seen on many levels”. He said the file date on the data was April 2015 and that it was unclear if it had been exposed since then.
Zwane: Why this obsession with one family?
Mineral Resources Minister Mosebenzi Zwane has vehemently denied that he at any stage benefited from his relationship with the Gupta family, or tried to further their business interests in his capacity as a public official.
Zwane faced a grilling from Parliament’s portfolio committee on mineral resources, which was instructed by House chairperson Cedric Frolick to call Zwane to respond to state capture allegations.
The minister was asked to clarify a number of claims in the public domain, such as his involvement in the dairy farm project in Vrede in the Free State, and his close connection to the Gupta family and President Jacob Zuma’s son Duduzane.
SA-linked miner drops Marc Faber after racist rant
A director of Canadian-headquartered mining company Ivanhoe, which is developing a South Africa platinum mine, has been forced to resign over his racist and pro-slavery comments.
Marc Faber wrote in his October investment newsletter called the “Gloom, Boom & Doom Report” that American had enjoyed “200 years in the economic and political sun under a white majority”.
Images of the newsletter were posted and circulated on social media. He was forced off the boards of Ivanhoe and Toronto-based asset manager Sprott.
Zuma Cabinet reshuffle: Nuclear will place economy in dire danger – economist
South Africa’s fiscal situation already places the economy in dire danger and the latest Cabinet reshuffle – apparently a clear attempt to put nuclear power plans back on track – only makes matters worse.
This is the view of Rian le Roux, chief economist at Old Mutual Investment Group.
“If Minister of Finance Malusi Gigaba is already struggling to keep the national budget under control without the National Health Insurance and nuclear power, I do not want to be in his shoes if those two items are added,” Le Roux told Fin24.
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