What on earth happened to Steinhoff's Markus Jooste and his Hermanus property?

It’s now a year since news about Steinhoff International Holdings accounting irregularity scandal and share-price collapse broke.

Around that time there was a lot of curiosity in the seaside town of Hermanus in the Western Cape about a very large piece of prime real estate leading to the ocean which was lying dormant and untouched.

The reason for the curiosity was that this piece of land belonged to former CEO of Steinhoff International, Markus Jooste.

But what happened to Markus Jooste and his piece of prime property in Hermanus?

Editing publisher of The Village News, De Waal Steyn says locals have seen Jooste a few times after he appeared in Parliament last year but he has since gone underground.

He has really gone underground and he has not been seen in Hermanus, though his family is still here.

De Waal Steyn, Editing publisher - The Village News

It seems that the piece of land is not sold yet. It is as empty, I suppose, as Steinhoff bank account. It is a bit overgrown with grass here and there.

De Waal Steyn, Editing publisher - The Village News

I did see a board that was erected by an architect and I tried calling the number but there was no answer. I don't know what is going on exactly but it is still empty and no work is going on there.

De Waal Steyn, Editing publisher - The Village News

To hear the rest of the conversation with De Waal Steyn, listen below:


This article first appeared on CapeTalk : What on earth happened to Steinhoff's Markus Jooste and his Hermanus property?


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