A good week for Dunstan Mlambo and a bad week for Christo Wiese
Upholding the constitution, the high court led by Gauteng judge president Dunstan Mlambo found that President Jacob Zuma is too conflicted to appoint a national director of public prosecutions (NDPP) as he faces 18 fraud, corruption and other charges, irrationally dropped by former acting NDPP Mokotedi Mpshe. NDPP Shaun Abrahams, whose appointment was set aside in the judgment, is still set to decide if Zuma is to be charged or not. The court stressed the importance of an independent National Prosecuting Authority.
After spending decades amassing wealth worth more than Swaziland’s GDP, retail tycoon and Steinhoff chairman Christo Wiese’s net worth plunged to US$1.8bn on Monday from $4.4bn last Tuesday, according to Bloomberg’s billionaires index. Now he’ll have to make do with a net worth comparable with the Central African Republic’s economy. The investment guru’s woes stem from revelations about Steinhoff’s "accounting irregularities", which have hit all JSE-listed companies with ties to Steinhoff and Wiese.