South African Parliament to probe Steinhoff scandal

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The Chairperson of the Parliamentary Standing Committee on Finance, Yunus Carrim, confirmed today, 11 January 2018, that there was no change in the decision to have hearings on the Steinhoff scandal at the end of this month.

This comes after Democratic Alliance (DA) MP David Maynier said earlier in the day that he had not received a formal reply to his request for public hearings on Steinhoff, although a public statement was issued following his request.

Last month, Maynier wrote to Carrim requesting him to consider scheduling public hearings on the scandal surrounding accounting irregularities at the South African retail giant Steinhoff International Holdings N.V.

The hearings will be held jointly with the Standing Committee on Public Accounts (Scopa) and the Public Service and Administration Portfolio Committee on 30 or 31 January, depending on outstanding administrative issues.

Carrim said it’s absolutely not true that the hearings are being held at the request of Mr. David Maynier, as he claims.

“Actually, I acted immediately after the issue broke out and decided that the Committee would have to have hearings on this matter well before Maynier wrote to me and rushed to the media. I also received a call from Floyd Shivambu regarding the matter and Godi had already issued a statement,” says Carrim.

“I wrote to the Financial Services Board (FSB), South African Reserve Bank, Public Investment Corporation, Government Employees Pension Fund, Independent Board for Auditors and JSE informing them about the pending hearings and requesting them to provide us with the scope or terms of reference of the FSB investigation into Steinhoff and the possible timelines for the completion of the investigation,” he said.

But Carrim says it was absolutely not true that the hearings were being held at Maynier’s request as he claimed, adding that Maynier’s political posturing was only exacerbating the situation.

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Bontle Moeng is the Founder and Managing Director of BizNis Africa. Moeng has spent 16 years working in the digital and online media industry across Africa. She applied her trade at True Love magazine prior to discovering her passion for Investment news in key sectors across Africa. Moeng previously worked for ITWeb, Starfish Mobile Technologies, ITNewsAfrica, AVATAR Agency, eNitiate, Global Interface Consulting and Havas Johannesburg. Her primary focus is to provide solid and valuable content on investment opportunities for the ICT, Energy and Mining sectors across Africa. In addition, the online news publication assists global companies to expand their presence in Africa. Email: news@biznisafrica.co.za

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