Christo Wiese says the crisis at Steinhoff came like a bolt from the blue.
The former Steinhoff Chairperson – and largest shareholder – spoke in Parliament on Wednesday.
The billionaire, who invested R55 billion in Steinhoff, says he was unaware of any wrongdoing.
Normally when you’re in a business - and you’re responsible- you can see the problems coming, you’re aware of them. The sales go down, the liquidity dries up, people start leaving the sinking ship, and you can take corrective action – but this came like a bolt out of the blue.— Christo Wiese
Wiese claims he first became aware that something was wrong three days before Steinhoff had to wrap up its accounts for its December board meeting.
The Money Show’s Bruce Whitfield interviewed EWN reporter Gaye Davis.
Listen to the interview in the audio below (and/or scroll down for quotes from it).
MPs find it very difficult to believe…— Gaye Davis, EWN
Wiese said that there are cleverer people than the Steinhoff board who has been duped before.— Gaye Davis, EWN
Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.
Recommendedby NEWSROOM AI
SA missing in action. Trump vs Thunberg. Stakeholder capitalism. A wrap of our coverage of this year’s World Economic Forum.
The Money Show’s Bruce Whitfield conducts a shocking interview with CNN’s Richard Quest at the World Economic Forum in Davos.
Positioning your business for success - what does this phrase even mean?
Nigeria’s Aliko Dangote remains the richest. Christo Wiese is a billionaire once more. Bruce Whitfield interviews Chris Bishop.
Bruce Whitfield interviews Steinhoff Chair Christo Wiese, the JSE's John Burke and Anchor Capital CIO Sean Ashton.
Bruce Whitfield interviews the remarkable Wiese (net worth R100 billion!) about how it all began and where it’s going.
Raeesah Noor-Mahomed has joined schoolkids around the world by embarking on a Friday school boycott over climate inaction.
An Arizona man dressed up a fake skeleton in the back seat to fool the traffic cops, but didn't do a very convincing job.
Greg Gamble and Philippe van der Merwe join Refiloe Mpakanyane in studio.
Mapule Ndhlovu opens up about her life journey and how exercise changed not only her body, but her mindset for the better.
Anton Harber and Thandeka Gqubule won their defamation case over Mbuyiseni Ndlozi's party statement implying links to Stratcom.
WEF youth climate delegate Vanessa Nakate was cropped out of a group pic with her white peers, also featuring Greta Thunberg.
Nikki Bush has valuable tips on preparing not only your school-leaver but yourself for the journey into adulthood ahead.
Right to Sight trustee Dr Matt Young says they get donations at the most time but now need big sponsors.
The Cato Manor 9 were hanged in 1961 by the apartheid after taking part in an uprising on 24 January 1960.
The musician says he never writes songs about his personal life but this latest single is too personal for him.