File image: Former Steinhoff CEO Markus Jooste. (Photo: INLSA).
File image: Former Steinhoff CEO Markus Jooste. (Photo: INLSA).

Markus Jooste will go to Parliament finally

By Sandile Mchunu Time of article published May 23, 2018

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CAPE TOWN - Former Steinhoff International chief executive Markus Jooste has been summoned again by four committees in Parliament to give evidence on the collapse of the retail giant’s share price, which happened under his leadership.

Jooste was expected to appear before the parliamentary committees at the beginning of August.

Yesterday, the standing committee on finance said it had affirmed the decision of the joint meeting with the standing committees on public accounts, trade and industry, public service and administration taken on March 28 to summons Jooste to appear in person after he declined an invitation.

Jooste resigned in a huff in December after the group admitted to accounting irregularities which led to a decline of 95percent in Steinhoff share price.

In March, his lawyers, De Klerk and Van Gend, wrote to the portfolio committees of finance, public accounts, public service and administration and trade and industry, excusing their client. “Our client has decided to respectfully decline your invitation” the letter read.

The letter claimed that appearing before the committees would undermine Jooste’s right to a fair trial.

DA spokesperson on finance David Maynier welcomed the decision to call Jooste to appear before Parliament.

“We may now finally get to hear evidence about the big mistakes Markus Jooste made which resulted in what may be one of the biggest corporate scandals in South Africa.”


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