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The number of murders in South Africa has climbed to the highest level in a decade as an overburdened police force struggle to keep violent crime in check.
Steinhoff was given a record R53m fine by South Africa’s financial regulator for failing to properly disclose accounting problems to shareholders.
The business ethics of Old Mutual’s former CEO Peter Moyo are back in the spotlight after a dynamite disclosure in yesterday’s Sunday Times Business Times.
Steinhoff nominated Mazars’s Netherlands unit as its new group auditor as the South African retailer looks to make a fresh start after it was almost destroyed by an accounting scandal.
Alec Hogg’s interviews this week with Jared Watson and Bernard Mostert shone an interesting new light on Bosasa’s Gavin Watson and Steinhoff’s Markus Jooste.
Biznews editor Alec Hogg interviewed Bernard Mostert, former CEO of Tekkie Town, one of the last companies bought by Steinhoff before the group crashed in a morass of fraud and financial irregularities.
Steinhoff’s effort to recoup salaries from former executives appears to be heading for a lengthy legal battle as ex-Chief Financial Officer Ben la Grange joined his former boss in filing an objection.
Steinhoff may have about $16.6bn of assets and stakes in profitable companies but you won’t see that reflected in the share price.
Steinhoff shares hit a new low even after a long-awaited restructuring agreement on 9 billion euros of debt had been reached.
The Tekkie Town vendors brought the urgent application in the Western Cape High Court on April 25 seeking to interdict Steinhoff until such time as a ruling in their main action has been handed down.