25 April 2024 | 04:24 AM

Open investigation: Steinhoff

Key Takeaways

Earlier this month former Steinhoff CEO Markus Jooste managed to sidestep responsibility for the financial collapse of the global retailer during a three-hour Parliamentary inquiry.

Jooste resigned from Steinhoff in December just as revelations of alleged “accounting irregularities” emerged — and the retailer’s stock crashed by more than 60% overnight.

In a flash, the Public Investment Corporation, which invests the Government Employees Pension Fund, lost billions.

Something smells bad, so we’re going to dig into this a little deeper.

  • For more details into our open investigation into Steinhoff, go here.

 

 

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amaBhungane

Before joining the amaBhungane team in 2017, Micah was the national coordinator for media freedom and diversity at the Right2Know Campaign. He holds a Masters in African Studies from Oxford University and a BA Honours in History from Wits University.

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