Home

Gigaba supports probe into Steinhoff scandal

Reading Time: < 1 minute

Finance Minister Malusi Gigaba says he supports the decision by the Financial Services Board (FSB) to institute an independent investigation into the alleged false and misleading financial reports by Steinhoff.

Treasury says it has noted with grave concern the developments around Steinhoff.

In a statement, Treasury says it is mindful that many retirement and savings fund have been affected by the loss of the value of the Steinhoff.

The Minister has requested the retirement fund regulator at the FSB, the Public Investment Corporation (PIC) and Government Employees Pension Fund (GEPF) to provide him with a report on the extent of exposure for retirement funds.

Treasury has also urged corporates to provide accurate reporting on its financials and to maintain the highest practices of good governance.

Author

MOST READ