Until Shamila Batohi, the national director of public prosecutions, stands up to announce the arrest of just one errant executive from Steinhoff, Tongaat Hulett or EOH, the perpetual cloud of suspicion over the corporate sector is unlikely to lift.

It’s not as if there isn’t a case to prosecute. Steinhoff, for example, laid a complaint with the police after forensic investigators from PwC concluded that R106bn in "fictitious and/or irregular transactions" were cooked up over the course of a decade. And it wasn’t a mystery who did this either: Steinhoff named former CEO Markus Jooste, and others, as culpable...

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