Steinhoff is biggest scandal to hit SA

Steinhoff is biggest scandal to hit SA - Fedusa

12 December 2017 8:29 AM

The Federation of Unions of South Africa (Fedusa) has called for the Johannesburg Stock Exchange (JSE) to take more decisive action against Steinhoff International.

On Monday, Fedusa met with the Public Investment Corporation (PIC) to discuss how the Steinhoff corporate scandal will impact on workers' pensions.

READ: Fedusa to meet PIC as Steinhoff crash hits workers pension funds hard

In Parliament, the Portfolio Committee on Public Service and Administration also called for regulatory bodies to take action against Steinhoff.

Stephen Grootes spoke to general secretary Dennis George about the outcomes of Fedusa's meeting with the PIC.

We believe that the entire board and senior management should be investigated and the other thing that is very concerning to us is that the board took a decision to say they will appoint PWC do an investigation while we know Deloitte were their auditors.
— Dennis George, Fedusa General Secretary

This is the biggest scandal in the history of South Africa, and from our side Fedusa is already starting to prepare papers to have all of them declared delinquent, we don't believe people like that should be trusted with pension monies.
— Dennis George, Fedusa General Secretary

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Written by: Neo Koza