South Africa: Progressive Professionals Forum opens docket against Steinhoff
11 Dec 2017


The Progressive Professionals Forum (PPF) opened a docket of inquiry for criminal charges against embattled furniture giant Steinhoff in Stellenbosch on Saturday.

The organisation said it would also write to Public Protector Busisiwe Mkhwebane asking her to initiate a comprehensive inquiry into asset management companies sub-contracted by the Public Investment Corporation to assess if they “are not also involved in alleged acts of economic terrorism”.

The forum said it was “shocked and agitated” by the recent revelations of “accounting irregularities” that have resulted in more than R100-billion of pension funds lost.

Steinhoff CEO Markus Jooste resigned earlier this week because of the scandal.

His resignation caused the company’s share price to drop dramatically.

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