Beyond Kenya: Class Action Lawsuit Against Steinhoff, Deloitte, Current & Former Directors filed

By Soko Directory Team / August 10, 2018




LHL Attorneys on Wednesday filed a prospective class action proceeding at the South Gauteng High Court in Johannesburg, South Africa over what it alleges was the destruction of over €12 billion (ZAR 185 billion) in shareholder value resulting from the long-running accounting irregularities at Steinhoff. It is seeking the recovery of those losses.

Defendants in the lawsuit include Dutch incorporated Steinhoff International Holdings NV, its South African predecessor Steinhoff International Holdings, Absa, Germany’s Commerzbank AG, UK-based bank Standard Chartered Bank, auditors Deloitte and Rödl & Partner, and several former and current board members including former CEO of Steinhoff International Holdings and Steinhoff International Holdings, NV, Markus Jooste, former CFO Ben la Grange and ex-Chairman and South African billionaire Christo Wiese

Read More on CNBC Africa

Tanzania to Suspend License of MultiChoice

Tanzania says it will suspend the license of MultiChoice Tanzania, DStv and GOtv services provider, for charging clients to access free-to-air television channels.

The Tanzania Communication Regulatory Authority (TCRA) said Tuesday that MultiChoice has on several occasions failed to comply with its license condition to exclude the free-to-air stations from its pay-TV services.

Read More on The East African

President Salvar Kiir Grants Amnesty to His Rival Riek Machar

South Sudan President Salva Kiir offered amnesty to all those involved in the nation’s bloody five-year civil war as part of a recent agreement to end the fighting.

Rebel leader Riek Machar was among those granted a pardon by Kiir.

Those who “waged war against in the government” were granted a general amnesty, Kiir stated late Wednesday

Read More on Aljazeera

Top Zimbabwean Opposition Figure Arrested and Detained after Forced Return From Zambia.

A senior Zimbabwean opposition politician who was refused asylum in neighboring Zambia and forcibly returned to his own country has been charged over his alleged role in last week’s post-election protests.

“We will keep on fighting,” Tendai Biti told reporters, before being granted bail of $5,000 (£3,885) and told to surrender his passport.

Read More on The Guardian



About Soko Directory Team

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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