LEON LOUW: Capitalism raised the alarm about Steinhoff — and did so instantaneously
Socialists like Dali Mpofu dance ecstatically around the witch’s cauldron whenever "corporate corruption" occurs, because it is so rare. He tweeted recently: "Corporate corruption of Naspers, Steinhoff etc is far WORSE than govt corruption. We can vote out a corrupt govt but Capitalism = Corruption!" Their latest ecstasy comes hot on the heels of Naspers being seduced into government corruption by the offer of a broadcasting monopoly. Another of our biggest companies, Steinhoff, is under investigation in Germany for "accounting irregularities" and "nondisclosure", as opposed to "corruption". Why Mpofu’s view matters is not that it typifies the tyranny of twaddle, but that he is a respected intellectual, senior counsel, businessman and activist. He is regarded as a man of integrity. When he says something, it should be taken seriously. A few Steinhoff executives, perhaps just one, allegedly falsified data, and concealed acquisitions to hide debt and avoid retarded forex controls. The...
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