JOHANNESBURG – The Public Servants Association (PSA) is concerned about reports that the South African Reserve Bank, when under the governorship of Gill Marcus, approved Steinhoff International’s listing on the Frankfurt Stock Exchange.
This while the former Governor now sits as Assistant Commissioner at the Commission of Inquiry, probing alleged irregularities at the Public Investment Corporation.
Reports also indicate that an NGO, Knysna Initiative for Learning and Teaching (Kilt), tied to Ms Marcus, received donations from Steinhoff. Despite Steinhoff suffering a major financial setback, it appears that the company continued to donate to Kilt until February 2018.
The PSA that represents more than 240 000 public-sector employees and retired public servants, pointed out that this situation raises various alarming questions.
Why were Steinhoff executives and the former CEO, Marcus Jooste, never requested to testify, despite the collapse of the organisation leading to the loss of billions of state pension funds invested through the PIC.