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Corruption Watch condemns the conduct of Steinhoff involving financial irregularities, as confirmed by former CEO, Markus Jooste, who resigned in the wake of the allegations.  The civil society organisation will continue to monitor the outcome of the investigation, and will shine a light on the impact of these corrupt business dealings.

The organisation calls on the business community, including bodies like BLSA and BUSA, to take decisive action to distance themselves from the malfeasant conduct of Steinhoff and Naspers, and any other businesses found to be corrupt in their operations. If the South African business community and the South African economy is not to be tainted by these actions on the part of high profile global companies, a more proactive response is required.

Both Steinhoff and Naspers have been perceived as major success stories in the business realm, but these actions seriously detract from the integrity of these corporations and represent a massive blow to perceptions of how business is conducted in South Africa.

For more information, contact:

Phemelo Khaas:                083 763 3472