Cape Town —
Reserve Bank Seizes Former Steinhoff CEO Markus Jooste’s Properties
The Reserve Bank yesterday swooped on properties belonging to disgraced former CEO of Steinhoff, Markus Jooste, Eye Witness News reports. In what was called South Africa’s biggest fraud case ever, Steinhoff is alleged to have misrepresented its balance sheets to shareholders for a number of years – a discovery that led to Jooste’s hasty exit on December 5, 2017. Court papers state that the seized assets include Jooste’s Lanzerac wine farm in Stellenbosch (which he was given by billionaire Christo Wiese in exchange for Steinhoff shares), his Hermanus property and other assets registered under his Silver Oak Trust valued at R1.2 billion.
President Ramaphosa Withdraws Perks for Ministers
Amendments made by President Cyril Ramaphosa to the Ministerial Handbook have been withdrawn – and none too soon, following a public outcry. The amendments included free water and electricity at ministers’ and deputy ministers’ official residences, and they were allowed to employ more personal staff. This came at a time when ordinary South Africans are buckling under the weight of load shedding and rising food and petrol prices.
South African Students In Russia Face Eviction
The 229 students from Mpumalanga province who are studying at 11 universities in Russia say they have been left to fend for themselves and face possible academic and financial exclusion. The students are furthering their studies in general medicine, engineering and aviation. They say that they are on the verge of being homeless as the provincial education department has not paid their stipends, tuition and accommodation fees. Eye Witness News reports that the department’s contract with the agency that places students at Russian universities ended in March 2022.