December 7, 2017 / 3:55 PM / a year ago

South Africa's finance minister wants report on impact of Steinhoff woes on retirement funds

FILE PHOTO: South African Finance Minister Malusi Gigaba speaks to journalists at the World Economic Forum on Africa 2017 meeting in Durban, South Africa, May 3, 2017. REUTERS/Rogan Ward/File Photo

JOHANNESBURG (Reuters) - South Africa Finance Minister Malusi Gigaba on Thursday asked retirement fund managers for a report on the extent of exposure of retirement investments in the selloff of Steinhoff (SNHG.DE) shares after the firm was embroiled in an accounting scandal.

“The Minister is mindful that many retirement and savings funds may be adversely affected by the loss in the value of Steinhoff shares,” the finance ministry said in a statement.

Reporting by Olivia Kumwenda-Mtambo; Editing by James Macharia

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below