[LISTEN] How the Steinhoff scandal could affect your pocket
Magda Wierzycka says the value of your savings in your pension fund may have been affected by the Steinhoff scandal.
CAPE TOWN - If you know Ackerman’s, Hi-Fi Corp, Incredible Connection and Tekkie Town, then you know the company Steinhoff, one of South Africa's largest companies.
Steinhoff is a global retailer with more than 40 local brands in over 30 countries.
The company's CEO Markus Jooste resigned amid allegations of acquisitions without control, tax fraud, earnings manipulation and collusion between executives.
CapeTalk host Kieno Kammies spoke to the CEO of Insignia Group, Magda Wierzycka, who painted a very bleak picture about the company’s future and why South Africans should care.
Listen to the audio above for more.