Markus Jooste to testify under oath before Parliament in early September

Formed Steinhoff CEO Markus Jooste will not be appearing before a Parliamentary committee on Wednesday, but will give evidence under oath the following week, on Wednesday September 5. 

This after an agreement was reached between his legal team and Parliament on Tuesday. 

It will be the first time that Jooste has publicly spoken out about what happened at Steinhoff since he abruptly resigned in December 2017 after auditors flagged accounting irregularities in its books. The Stellenbosch-headquartered group's share price has plunged by over 95% since he stepped down.

Jooste and the group's former CFO Ben la Grange had been subpoenaed to appear before a Parliamentary oversight committee on Wednesday to provide evidence on "institutional flaws and challenges existing in [SA's] financial regulatory framework".

La Grange will still attend the meeting on Wednesday. 

The meeting will be held by Parliament’s Standing Committee on Finance, the Portfolio Committee on Trade and Industry, the Standing Committee on Public Accounts and the Portfolio Committee on Public Service and Administration.

Chairperson of the Standing Committee on Finance Yunus Carrim said he could only respond to questions from the media after the meeting.

ZAR/USD
17.62
(-0.12)
ZAR/GBP
23.01
(-0.05)
ZAR/EUR
20.78
(-0.03)
ZAR/AUD
12.62
(-0.03)
ZAR/JPY
0.17
(-0.88)
Gold
2034.21
(+0.05)
Silver
28.28
(+0.09)
Platinum
961.50
(+0.38)
Brent Crude
44.55
(-1.53)
Palladium
2166.01
(+0.63)
All Share
56757.73
(-1.56)
Top 40
52435.65
(-1.72)
Financial 15
9897.96
(+0.10)
Industrial 25
74671.49
(-1.98)
Resource 10
58948.78
(-1.89)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 929 votes
It depends on how the funds are used.
74% - 6238 votes
No. We should have gotten the loan elsewhere.
15% - 1283 votes
Vote