COSATU welcomes the seizure of Markus Jooste’s assets

The Congress of South African Trade Unions (COSATU) welcomes the seizure of Markus Jooste’s assets by the South African Reserve Bank (SARB) for contravening the Exchange Control Regulations.

This is long overdue because Markus Jooste has been undermining the South African laws and regulations with impunity for years now. Markus Jooste and his associates have been accused of the rampant theft, corruption and money laundering of workers’ hard-earned monies and pensions at Steinhoff.

For too long Markus Jooste and his associates have not been held to account for the serious criminal offences they have been accused of.  For too long their assets were not attached and protected from disposal.  For too long they have not been brought to court and made to account.

This is despite the extensive public hearings that Parliament held on this critical matter for thousands of workers and pensioners.  This is despite the fact that Germany has made significant progress in its own legal processes.

COSATU hopes that the initiation of the seizing of assets by the SARB will be extended to all assets of Jooste and his associates.  This must be done with speed to prevent the disposal of assets.

The National Prosecuting Authority needs to be woken up from its deep slumber.  They cannot be allowed to continue to sleepwalk on such a massive alleged criminal operation that costs workers billions of Rands.

It is critical that the Public Investment Corporation intensify its efforts to ensure that the workers’ pension and insurance funds that it is entrusted to invest are safe and that those who steal from them are made to account.

The South African Revenue Service needs to be enlisted to support these efforts to ensure Jooste and his associates as well as others accused of fiddling with workers’ monies are audited, pay their taxes and are thoroughly scrutinized.

Issued by COSATU   

Sizwe Pamla (Cosatu National Spokesperson)
Tel: 011 339 4911
Fax: 011 339 5080
Cell: 060 975 6794