Collins Letsoalo broke his silence during a media briefing in Pretoria, stating that in his brief spell at Prasa, he had unearthed what he termed "blame Lucky Montana and the previous board syndrome", which saw him quickly making enemies. Montana was Letsoalo's predecessor and was blamed for many of Prasa's troubles.

CAPE TOWN – Good morning. This is all the latest business news that you need to know today.

1. Deadline for comment on 93 octane prices extended

The Department of Energy is pushing ahead with a proposal to set maximum retail prices for 93 octane grades of petrol.

2. Bain & Company lashed for enabling Sars's near collapse

The final report on malfeasance at the South African Revenue Service (Sars) has hit out at the conduct of consulting firm Bain & Company for enabling its near-collapse.

3. Zimbabwe's annual inflation goes through the roof

Zimbabwe’s year-on-year inflation rate for November has risen to 31.01 percent, gaining 10.16 percentage points from the October rate, which stood at 20.85 percent, according to the country’s statistics agency, Zimbabwe National Statistics Agency (ZimStat) said on Monday.

4. I was dismissed from Prasa for uncovering looters, says Collins Letsoalo

Collins Letsoalo, former acting chief of Passenger Rail Agency of SA (Prasa), said on Monday that his dismissal from the troubled entity was due to "a web of corruption and looters" he had unearthed during his walkabouts and roadshows at the agency, and never about an alleged massive salary increase.

5. Edcon's liquidation would lead to the single biggest loss of jobs in SA

 The crisis facing retail giant Edcon Holdings shows that the presidential Jobs Summit that was meant to cushion South Africa's rising unemployment was a sham, said the SA Federation of Trade Unions (Saftu).

6. Former Prasa acting CEO to break silence on 350% salary hike claims

Collins Letsoalo, former acting chief of Passenger Rail Agency of SA (Prasa), will today break his silence about allegations that he had been asked to pay back the monies he earned after he allegedly hiked his salary by 350 percent when he was at the helm of the troubled rail agency. 

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