Investigation launched into largest corporate scandal in South Africa’s history
An investigation has been launched by the government into the largest corporate scandal in South Africa’s history, it was announced on Tuesday.
The investigation will be led by the Department of Trade and Industry (DTI) and its affiliated organization the Companies and Intellectual Property Commission (CIPC), DTI spokesperson Sidwell Medupe said.
The DTI and CIPC have noted with great concern allegations of governance failures and financial irregularities at South African retailer Steinhoff, which led to the resignation of its Chief Executive Officer Markus Jooste, Medupe said.
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