EDITOR'S LUNCHBOX: Lessons from the Steinhoff saga
The DA and EFF have finally acknowledged their mutual dislike, and Transnet procurement officers are balking at security vetting
Would security vetting stem bad judgment and corrupt intentions? Many procurement officers at Transnet don’t think so. Perhaps they feel the test is not an objective one.
In my opinion
Matters of debate
The Steinhoff collapse provides lessons about not falling for the spin of charismatic CEOs — and about demanding full transparency from companies in which pensioners’ savings are invested.
The Financial Times says attention will turn to other holdings controlled by Christo Wiese, such as his €1.3bn stake in Shoprite, as a potential source of cash.
The long and the short of the markets
EOH has problems, having been accused of a R6.1bn corrupt relationship with the South African Police Service.
Downgrade sinks Steinhoff. Moody’s cuts its credit rating from investment grade Baa3 to four notches into junk at B1.
For instance, if Zuma tried to fire Ramaphosa now, there could well be an interdict to stop him — on the basis that Zuma would be interfering with his own possible prosecution by appointing the person who must appoint his prosecutor.— Phillip de Wet (@phillipdewet) December 8, 2017