Scopa subpoenas Steinhoff International

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Standing Committee on Public Accounts(Scopa) Chairperson Themba Godi says next week Wednesday’s meeting with Steinhoff International might not be the last one.

Godi says Steinhoff has been informed to come to Parliament.

The company made headlines towards the end of 2017 in what Godi describes as the biggest corporate scandal in the history of South Africa.

This comes as more than 13 billion US dollars were wiped off when Steinhoff shares lost over 80% of their value. This affected the government employees pension funds invested in Steinhoff through the Public Investment Corporation.

Godi says Steinhoff is expected to appear before a joint committee comprising Scopa, Finance as well as Public Service and Administration.

“We have written to Steinhoff. We will hear from them and we will take it up from there. But of course we want responsible people who are going to account for what has happened. And it might be as well that the meeting next week not necessarily be the first and the last. We might have a number of meetings going forward on this matter and at each stage it will be decided which individuals must come,” he said.

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