Political analyst Khaya Sithole says the current controversy surrounding Democratic Alliance (DA) leader Mmusi Maimane may be a result of the factionalism within the party.
The Democratic Alliance (DA) says a donation from former Steinhoff executive Markus Jooste was made to the party before the company was implicated in a scandal.
Steinhoff executives were ultimately forced to divulge the names of former and current directors who’ve been implicated in the PwC report as having been responsible for inflating the retailer’s income by a whooping R100 billion.
Steinhoff has appointed commercial director Louis du Preez, a key figure in its attempts to recover from a financial crisis, as its permanent chief executive, sending shares in the South African retailer as much as 15% higher on Monday.
Steinhoff’s shares fell more than 9 percent on Thursday to a near two-month low after a global market rout and a report by Bloomberg saying the retailer’s former CEO advised friends to sell the firm’s stock days before the shares collapsed.