[LISTEN] Steinhoff explained: 100 times more looted in Steinhoff saga than VBS

South African has been hit with various looting scandals in the past few years.

The Steinhoff scandal shook the country and was labelled as the worst corruption scandal in South African history.

But does the public understand the enormity of what damage the Steinhoff scandal has caused?

Eusebius McKaiser spoke to Financial Mail journalist Warren Thompson to understand how the money was looted, what impact it has caused and whether there is enough noise around it.

Steinhoff's losses have been R200 billion rand.

Warren Thompson, Financial Mail journalist

READ: Journos expose Markus Jooste's dirty secrets

We are looking at looting at VBS amounting to R1.8 billion rand in total.

Warren Thompson, Financial Mail journalist

ALSO READ: New evidence: Markus Jooste systematically screwed Steinhoff since 1998

Investors in South Africa's pension funds and unit trust funds have sustained losses of over R200 billion so a hundred times more than VBS.

Warren Thompson, Financial Mail journalist

ALSO READ: ‘Steinhoff: Inside SA’s Biggest Corporate Crash’ author reveals shocking details

What surprises me, there seems to be a lack of political will to try and investigate and prosecute this crime.

Warren Thompson, Financial Mail journalist

Listen to how they Mark Jooste was able to loot Steinhoff...


Recommended

by NEWSROOM AI
Read More
'Steinhoff-controlled Pepkor failed to snuff Mr Tekkie'

'Steinhoff-controlled Pepkor failed to snuff Mr Tekkie'

The Money Show’s Bruce Whitfield interviews Mr Tekkie cofounder Bernard Mostert.

New evidence: Markus Jooste systematically screwed Steinhoff since 1998

New evidence: Markus Jooste systematically screwed Steinhoff since 1998

Bruce Whitfield interviews Sam Sole, Senior Investigative Journalist at amaBhungane Centre for Investigative Journalism.

Journos expose Markus Jooste's dirty secrets

Journos expose Markus Jooste's dirty secrets

The Financial Mail reports that Jooste and Bruno Steinhoff were enriching themselves at the expense of shareholders.

Mr Tekkie opens three branches ahead of its court battle with Pepkor (Steinhoff)

Mr Tekkie opens three branches ahead of its court battle with Pepkor (Steinhoff)

Former CEO of Tekkie Town, now co-founder of Mr Tekkie, Bernard Mostert says they are ready to defend themselves against Pepkor.

Words you will hear today: Stein-aster

Words you will hear today: Stein-aster

A combo of Steinhoff and disaster after allegations of financial irregularities saw 62% wiped off the value of Steinhoff.

Dis-Chem Foundation donates R50 000 to waste collectors project

Dis-Chem Foundation donates R50 000 to waste collectors project

Skeemsaam is a pilot project involving a collective of waste collectors who live in the James and Ethel Grey Park in Johannesburg.

Dis-Chem Foundation Random Act of Kindness: Reiger Park Cancer Support Group

Dis-Chem Foundation Random Act of Kindness: Reiger Park Cancer Support Group

The group aims to create an environment for cancer patients to gain spiritual and physical support.

Popular articles
Feeling tired of life and burnt-out? You may want to check this out

Feeling tired of life and burnt-out? You may want to check this out

Bruce Whitfield interviews Judy Klipin, author of “Recover from Burnout: Life Lessons to Regain your Passion and Purpose”.

Benguela Global Fund Managers is buying Naspers, Standard Bank and Pick n Pay

Benguela Global Fund Managers is buying Naspers, Standard Bank and Pick n Pay

Zwelakhe Mnguni (CIO at Benguela Global Fund Managers) shares his stock picks of the week: Naspers, Standard Bank and Pick n Pay.

'Debt relief law may cause banks to stop lending to lower-income clients'

'Debt relief law may cause banks to stop lending to lower-income clients'

The Money Show’s Bruce Whitfield interviews Cas Coovadia, Managing Director at the Banking Association of South Africa.

Were missing SA men victims of Vietnamese organ harvesting syndicate?

Were missing SA men victims of Vietnamese organ harvesting syndicate?

Gift of the Givers fears two South African men who went missing in Vietnam may have fallen prey to an organ harvesting syndicate.

[WATCH] Father and daughter dance-off changes tune when she starts twerking

[WATCH] Father and daughter dance-off changes tune when she starts twerking

Khabazela shares tweets and Facebook posts that have gone viral.

Gauteng Liquor Act prohibits passengers drinking in vehicles, says MMC Sun

Gauteng Liquor Act prohibits passengers drinking in vehicles, says MMC Sun

When you do take a taxi, drink at your destination and not in the cars, says City of Johannesburg MMC for Safety Micheal Sun.

How to buy a new car even if you don’t really have enough money for it

How to buy a new car even if you don’t really have enough money for it

South Africans are increasingly buying cars they can’t afford using balloon payments, says consumer journalist Wendy Knowler.