Steinhoff Inside Sas Biggest Corporate Crash

Download or read book Steinhoff inside SA's biggest corporate crash written by James-Brent Styan and published by Penguin Random House South Africa. This book was released on 2018-07-18 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt: On 5 December 2017 the Steinhoff group was still worth R199 billion. 24 hours later more than R160 billion of this fortune was wiped out. The Steinhoff empire, that took 20 years to build into an international business giant, had crumbled overnight. Markus Jooste, Steinhoff’s flashy CEO, resigned via sms and has since been fleeing an avalanche of scandals and accusations: luxury homes for a blonde mistress, allegations of fraud, racing horses and unparalleled extravagance, a lavish, black Jaguar for an old university residence”¦ What exactly happened here? Who knew what? What is Steinhoff, who is Markus Jooste and what does it all have to do with the so called Stellenbosch mafia? Where does business tycoon Christo Wiese, Shoprite and Pepkor fit in and where is the pensioners’ money? Well-known financial writer James-Brent Styan unpacks these and other questions in this astounding tale of power and greed, of secrets and deceit, and ultimately the biggest financial breakdown in the history of South Africa. Through interviews with trustworthy sources, revelations from confidential documents and in-depth research about Steinhoff’s history, Styan uncovers what the group doesn’t want you to know. Follow the money: the story of Steinhoff, Markus Jooste and the Stellenbosch boys is a gripping financial thriller that will be told as cautionary tale or salacious scandal in both boardrooms and living rooms for decades to come.

Download or read book Steinhoff: Inside SA's Biggest Corporate Crash written by James-Brent Styan and published by . This book was released on 2018 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Steinheist written by Rob Rose (Journalist) and published by . This book was released on 2018-10-31 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The Steinhoff crash wiped more than R200bn off the Johannesburg Stock Exchange, erased more than half the wealth of tycoon Christo Wiese and knocked the pension funds of millions of ordinary South Africans. When this investors' darling was exposed as a house of cards, tales of fraudulent accounting, a lavish lifestyle involving multimillion-rand racehorses and ructions in the 'Stellenbosch mafia' made headlines around the world. As regulators tally up the cost, Financial Mail editor Rob Rose reveals the real inside story behind Steinhoff. Based on dozens of interviews with key players in South Africa, the UK, Germany and the Netherlands - and documents not yet public - Steinheist reveals: How Bruno Steinhoff formed the company by doing business in the Communist bloc and apartheid South Africa; How the 'Markus myth' started in the dusty streets of Ga-Rankuwa and grew thanks to a 'bit of luck' in a 1998 takeover; How Jooste insiders shifted nasty liabilities off Steinhoff's balance sheet to secretive companies overseas in order to present a false picture of the profits; How Wiese was lucky to lose only R59bn and how Shoprite narrowly escaped getting caught in Steinhoff's web; and What happened behind closed boardroom doors in the frantic week before Jooste resigned"--Back cover.

Download or read book The Stellenbosch Mafia written by Pieter du Toit and published by Jonathan Ball Publishers. This book was released on 2019-07-15 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: About 50km outside of Cape Town lies the beautiful town of Stellenbosch, nestled against vineyards and blue mountains that stretch to the sky. Here reside some of South Africa's wealthiest individuals: all male, all Afrikaans – and all stinking rich. Johann Rupert, Jannie Mouton, Markus Jooste and Christo Weise, to name a few. Julius Malema refers to them scathingly as 'The Stellenbosch Mafia', the very worst example of white monopoly capital. But who really are these mega-wealthy individuals, and what influence do they exert not only on Stellenbosch but more broadly on South African society? Author Pieter du Toit begins by exploring the roots of Stellenbosch, one of the wealthiest towns in South Africa and arguably the cradle of Afrikanerdom. This is the birthplace of apartheid leaders, intellectuals, newspaper empires and more. He then closely examines this 'club' of billionaires. Who are they and, crucially, how are they connected? What network of boardroom membership, alliances and family connections exist? Who are the 'old guard' and who are the 'inkommers', and what about the youngsters desperate to make their mark? He looks at the collapse of Steinhoff: what went wrong, and whether there are other companies at risk of a similar fate. He examines the control these men have over cultural life, including pulling the strings in South Africa rugby.

Download or read book 6 Shocking Business Secrets written by Dr Vulumuzi Bhebhe and published by Ui brands. This book was released on with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: The compilation of six business principles by Dr. Vulumuzi Bhebhe serves as a reminder that running a successful business entity is complex and complicated. It also confirms, paradoxically so, that incorporating a variety of reference points to serve as a frame- work for doing business, is both imperative and very personal. It is not about the cor- rectness of choice but about the alignment of such chosen principles to the way in which the management team operate. The six principled framework of Dr Bhebhe assumes a management team who will show up in a direct and proactive manner, interpreting the world of work as a set of inter-related systems each depending on the other. Reference to asking the Why, What and How questions repeatedly is critical to hold the team on track and to ground the management team in executing their management du-ties. Similarly, the inclusion of innovation as a principle serves as a challenge to all man- agement members to sustain high levels of energy and to continuously engage all rele- vant stakeholders. Turning cold leads into major clients has become more manageable with technology. It also requires a closer involvement from management in coaching employees on specific aspects related to this principle. Acknowledging fellow employees as marketers and customer relation representatives is indeed a powerful principle to be included. However, more work needs to be done by managers to ensure this principle emerges as a reality in practice. Reference to ethics as one of the six principles is highly appreciated as it has become in- creasingly relevant in a world marked by gross corruption and misconduct in business (both public and private). The strategies contained herein are very relevant and, the real-world implication and application is very fresh. This book is highly recommend to business institutions and businesspeople.

Download or read book South Africa and the World written by Mills Soko and published by Jonathan Ball Publishers. This book was released on 2021-09-27 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past 20 years the global political economy has experienced its most profound shifts since the onset of the industrial revolution. In South Africa and the World, Mills Soko reflects on some of the salient issues that have pervaded public discourse during this time, analysing them within the context of the contemporary South African political economy and of the country's position in the world. Arranged thematically, the essays were all written during a defining period in recent history, a period that has witnessed, among others, the accession of China to the WTO, the 9/11 terrorist attacks on the US, the invention of the iPad, the birth of Facebook, the 2008/9 global financial crisis, Brexit and the global coronavirus pandemic which began at the end of 2019. The turbulent multipolar world demands visionary political and economic leadership, supported by institutions well attuned to contemporary conditions. Such leadership is in short supply. Nor is the existing institutional architecture sufficiently equipped to deal with a complex array of economic, social, environmental, technological and demographic challenges. Mills Soko highlights what has not worked in terms of politics, leadership, foreign policy, the economy, the African development trajectory, corporate ethics, international trade, global governance, and the thread which underlies all these issues – the importance of strong, decisive and accountable leadership. He counters his criticism with what has worked and offers views on how some of the problems that have constrained progress in South Africa and the world can be solved. A central message emerges from his writings: leadership and governance matter, whether in the national or international context. It is a message that permeates all the chapters in the book. And it goes to the heart of what South Africa has gone through over the past two decades and where it is today.

Download or read book Destroying Democracy written by Jane Duncan and published by NYU Press. This book was released on 2021-08-01 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: A history of the erosion of democracy across the globe Democracy is being destroyed. This is a crisis that expresses itself in the rising authoritarianism visible in divisive and exclusionary politics, populist political parties and movements, increased distrust in fact-based information and news, and the withering accountability of state institutions. Over the last four decades, democracy has radically shifted to a market democracy in which all aspects of human, non-human and planetary life are commodified, with corporations becoming more powerful than states and their citizens. This is how neoliberal capitalism functions at a systemic level and if left unchecked, is the greatest threat to democracy and a sustainable planet. Volume six of the Democratic Marxism series focuses on how decades of neoliberal capitalism have eroded the global democratic project and how, in the process, authoritarian politics are gaining ground. Scholars and activists from the political left focus on four country cases – India, Brazil, South Africa and the United States of America – in which the COVID-19 pandemic has fuelled and highlighted the pre-existing crisis. They interrogate issues of politics, ecology, state security, media, access to information and political parties, and affirm the need to reclaim and re-build an expansive and inclusive democracy. Destroying Democracy is an invaluable resource for the general public, activists, scholars and students who are interested in understanding the threats to democracy and the rising tide of authoritarianism in the global south and the global north.