NPA says no conflict of interest in Steinhoff paying R30m towards investigation The NPA said the company had been insulated from the investigation. File photo. Image: Supplied
The National Prosecuting Authority (NPA) said on Friday there was no conflict of interest in Steinhoff contributing millions of rand towards investigating fraud at the company.
Steinhoff told the Financial Mail that the Hawks and the NPA had approached it to ask if PwC (which had already completed a forensic investigation for the company) could “assist” because the state “hasn’t got the resources” to probe such a complex case.
Steinhoff told the publication that it had contributed R30m to finance the investigation.
NOMPU SIZIBA: JSE-listed retail holding company Steinhoff released a quarterly update for its operations and financials between October and December 2020. The company reported sales revenue from continuing operations of â¬2.5 billion, up 1% on the year prior, noting revenue increases in all their geographies.
Well, to give us the back story to the business, I’m joined on the line by Theodore de Klerk. He’s the CFO at Steinhoff. Thank you so much, Theodore, for joining us. Now you have your Pepco Group operations in Europe. Just tell us broadly about the business you have there, how they’ve been faring, and the state of the European consumer in light of the pandemic.
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