Top 5 on Fin24: Eskom's head of security resigns and VBS allegations unpacked

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

Eskom's head of security has resigned with immediate effect

Eskom's head of security resigned with immediate effect on Tuesday morning. 

Eskom spokesperson Khulu Phasiwe said in a WhatsApp message to Fin24 on Tuesday that retired Brigadier-General Tebogo Rakau had stepped down. 

He said the power utility was not at liberty to disclose employer-employee contractual matters with third parties.

• READ:  Eskom's head of security has resigned with immediate effect
  

Huge disconnect between SA consumer confidence and economic reality

There is currently a large disconnect between SA consumers’ sky-high expectations for domestic economic growth and related household income growth. The actual sub-par performance of the SA economy, shows the latest FNB/BER Consumer Confidence Index (CCI) released on Tuesday.

The CCI report states that this is against the background of the change in SA’s political leadership in December 2017 creating great optimism.

• READ: Huge disconnect between SA consumer confidence and economic reality, index shows

Ramaphosa first trying for re-election, then business confidence - economist

South Africa got excited when President Cyril Ramaphosa was elected and there was an expectation that the country could be turned around very quickly - but one has to be realistic.

This was the message from STANLIB chief economist Kevin Lings, speaking at an Allan Gray Investment Summit in Cape Town on Tuesday.

• READ: Ramaphosa first trying for re-election, then business confidence - economist

VBS allegations unpacked - from the masterminds to the mass fraud

The effective collapse of VBS Mutual Bank where at least R1.5bn was found to have been looted, leaving more than 22 000 depositors in the lurch, has revealed explosive and wide-ranging allegations against several individuals.

Investigations into the massive and growing saga are not yet done and more allegations are likely to surface.

• READ: VBS allegations unpacked - from the masterminds to the mass fraud

Mzwanele Manyi files for liquidation of ex-Gupta paper, not broadcaster

Businessman Mzwanele Manyi has filed court papers seeking an order of liquidation to be granted against newspaper Afro Voice, formerly known as the New Age. 

Manyi told Fin24 on Tuesday morning that the newspaper Afro Voice and the TV station Afro Worldview are separate entities, and the liquidation application only applies to the newspaper.   

• READ: Mzwanele Manyi files for liquidation of ex-Gupta paper, not broadcaster

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