PIC set its claws into Steinhoff

PIC sets its claws into Steinhoff

The Public Investment Corporation (PIC) says it’s dragging the embattled retail conglomerate, Steinhoff to court.

Steinhoff Offices

Africa’s largest asset manager is seeking the full disclosure of a Price Water House Coopers audit report.

The PIC believes the report is critical for prosecution to follow.

The embattled firm is refusing to handover the reports – saying it contains confidential information.

Chairperson, Joe Maswanganyi says Parliament is ready to take them head-on, even if its means that summons must be issued to subpoena the report.

He also expressed is dissatisfaction pertaining to the slow pace to recover the R20 billion which was lost in Steinhoff.

“The committee maintained that both the PIC and GEPF should take responsibility and follow all the processes to recover the money.”

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