www.dailymaverick.co.za
Open in
urlscan Pro
2606:4700:10::6816:11f
Public Scan
URL:
https://www.dailymaverick.co.za/article/2023-07-05-reserve-bank-freezes-steinhoff-accounts/
Submission: On July 11 via api from ZA — Scanned from DE
Submission: On July 11 via api from ZA — Scanned from DE
Form analysis 6 forms found in the DOM
<form id="search">
<div class="input-group">
<input type="text" class="form-control" placeholder="Search for..." required="" minlength="4">
<span class="input-group-btn"><button class="btn search btn-default" type="button">GO</button></span>
</div>
</form>Name: send-magic-email —
<form name="send-magic-email" class="mail-login-engine-shortcode-form">
<h3 class="dm-better">DM is much better if you are signed in...</h3>
<div class="email-form">
<div class="form-group"><label for="send-magic-email" class="email-label">Enter your email below, and we will send you a mail with a link or One-time pin to login.</label><input type="email" class="form-control" name="email" id="send-magic-email"
aria-describedby="emailHelp" placeholder="e.g. john@dailymaverick.co.za" required="required"></div><button type="submit" class="btn btn-danger mail-login-engine-shortcode-sumbit">Send email to login</button>
<p class="email-response"></p>
</div>
<div class="otp-form form-inline">
<p>A code has been sent to <strong class="email-sent-to">...</strong>. Please check you email address.</p>
<p>Please enter the One Time Pin Below:</p>
<div id="otp" class="form-group inputs otp-inputs"><input class="form-control otp-input" type="tel" maxlength="1" data-index="0">
<input class="form-control otp-input" type="tel" maxlength="1" data-index="1">
<input class="form-control otp-input" type="tel" maxlength="1" data-index="2">
<input class="form-control otp-input" type="tel" maxlength="1" data-index="3">
</div>
<div><small>Didn't get the code? <button class="btn btn-link btn-sm resend-email">Resend email</button></small></div>
</div>
<p class="form-text response-text"></p>
<div class="register-form">
<h4>It looks like we don’t have an account for <strong class="your-email">this</strong>.</h4>
<h4>Would you like us to create an account for you?</h4><button class="btn btn-danger px-4 register-btn">Create a new account</button>
</div><a href="https://www.dailymaverick.co.za/sign-in/?utm_source=top-menu&utm_medium=link" class="btn btn-link password-login">Sign in with password</a>
</form>Name: user_login — POST
<form name="user_login" id="user_login" method="post" action="" role="form" novalidate="novalidate">
<div><input type="hidden" name="validate_shop_login" id="validate_shop_login" value="0">
<h3>Login with a password</h3>
<div class="form-group"><input type="email" class="form-control" name="user_email" id="sign_user_email" value="" placeholder="Email Address" required="" minlength="8"></div>
<div class="form-group"><input type="password" class="form-control" name="user_password" id="user_password" minlength="5" value="" placeholder="Password" required=""></div>
<div class="or">
<div>or</div>
</div>
<div class="social-center">
<div class="nsl-container nsl-container-block" data-align="left">
<div class="nsl-container-buttons">
<a href="https://www.dailymaverick.co.za/dm-admin/?loginSocial=facebook&redirect=https%3A%2F%2Fwww.dailymaverick.co.za%2Farticle%2F2023-07-05-reserve-bank-freezes-steinhoff-accounts%2F" rel="nofollow" aria-label="Continue with <b>Facebook</b>" data-plugin="nsl" data-action="connect" data-provider="facebook" data-popupwidth="600" data-popupheight="679" data-e-disable-page-transition="1"><div class="nsl-button nsl-button-default nsl-button-facebook" data-skin="light" style="background-color:#fff;"><div class="nsl-button-svg-container"><svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1365.3 1365.3" height="24" width="24"><path d="M1365.3 682.7A682.7 682.7 0 10576 1357V880H402.7V682.7H576V532.3c0-171.1 102-265.6 257.9-265.6 74.6 0 152.8 13.3 152.8 13.3v168h-86.1c-84.8 0-111.3 52.6-111.3 106.6v128h189.4L948.4 880h-159v477a682.8 682.8 0 00576-674.3" fill="#1877f2"></path><path d="M948.4 880l30.3-197.3H789.3v-128c0-54 26.5-106.7 111.3-106.7h86V280s-78-13.3-152.7-13.3c-156 0-257.9 94.5-257.9 265.6v150.4H402.7V880H576v477a687.8 687.8 0 00213.3 0V880h159.1" fill="#fff"></path></svg></div><div class="nsl-button-label-container">Continue with <b>Facebook</b></div></div></a><a href="https://www.dailymaverick.co.za/dm-admin/?loginSocial=google&redirect=https%3A%2F%2Fwww.dailymaverick.co.za%2Farticle%2F2023-07-05-reserve-bank-freezes-steinhoff-accounts%2F" rel="nofollow" aria-label="Continue with <b>Google</b>" data-plugin="nsl" data-action="connect" data-provider="google" data-popupwidth="600" data-popupheight="600" data-e-disable-page-transition="1"><div class="nsl-button nsl-button-default nsl-button-google" data-skin="light" style="background-color:#fff;"><div class="nsl-button-svg-container"><svg xmlns="http://www.w3.org/2000/svg" width="24" height="24" viewBox="0 0 24 24"><path fill="#4285F4" d="M20.64 12.2045c0-.6381-.0573-1.2518-.1636-1.8409H12v3.4814h4.8436c-.2086 1.125-.8427 2.0782-1.7959 2.7164v2.2581h2.9087c1.7018-1.5668 2.6836-3.874 2.6836-6.615z"></path><path fill="#34A853" d="M12 21c2.43 0 4.4673-.806 5.9564-2.1805l-2.9087-2.2581c-.8059.54-1.8368.859-3.0477.859-2.344 0-4.3282-1.5831-5.036-3.7104H3.9574v2.3318C5.4382 18.9832 8.4818 21 12 21z"></path><path fill="#FBBC05" d="M6.964 13.71c-.18-.54-.2822-1.1168-.2822-1.71s.1023-1.17.2823-1.71V7.9582H3.9573A8.9965 8.9965 0 0 0 3 12c0 1.4523.3477 2.8268.9573 4.0418L6.964 13.71z"></path><path fill="#EA4335" d="M12 6.5795c1.3214 0 2.5077.4541 3.4405 1.346l2.5813-2.5814C16.4632 3.8918 14.426 3 12 3 8.4818 3 5.4382 5.0168 3.9573 7.9582L6.964 10.29C7.6718 8.1627 9.6559 6.5795 12 6.5795z"></path></svg></div><div class="nsl-button-label-container">Continue with <b>Google</b></div></div></a>
</div>
</div>
</div>
<div class="checkbox"><label style="font-weight: 300;"><input type="checkbox" name="remember_me" id="remember_me" value="yes" checked="">Remember Me</label></div>
<p><a style="cursor: pointer; float: right" onclick="forgotPassword()" class="btn forgot-password-link">Forgot Password?</a></p><input class="btn btn-danger user_login" type="submit" name="user_login" value="Sign In">
<p class="form-text password-response-text"></p>
</div><a href="https://www.dailymaverick.co.za/sign-in/?utm_source=top-menu&utm_medium=link" class="btn btn-link otp-login-link">Use a One Time Pin?</a>
</form><form class="gsc-search-box gsc-search-box-tools" accept-charset="utf-8" style="display: none;">
<table cellspacing="0" cellpadding="0" role="presentation" class="gsc-search-box">
<tbody>
<tr>
<td class="gsc-input">
<div class="gsc-input-box" id="gsc-iw-id1">
<table cellspacing="0" cellpadding="0" role="presentation" id="gs_id50" class="gstl_50 gsc-input" style="width: 100%; padding: 0px;">
<tbody>
<tr>
<td id="gs_tti50" class="gsib_a"><input autocomplete="off" type="text" size="10" class="gsc-input" name="search" title="search" aria-label="search" id="gsc-i-id1"
style="width: 100%; padding: 0px; border: none; margin: 0px; height: auto; background: url("https://www.google.com/cse/static/images/1x/en/branding.png") left center no-repeat rgb(255, 255, 255); outline: none;"
dir="ltr" spellcheck="false"></td>
<td class="gsib_b">
<div class="gsst_b" id="gs_st50" dir="ltr"><a class="gsst_a" href="javascript:void(0)" style="display: none;" title="Clear search box" role="button"><span class="gscb_a" id="gs_cb50" aria-hidden="true">×</span></a></div>
</td>
</tr>
</tbody>
</table>
</div>
</td>
<td class="gsc-search-button"><button class="gsc-search-button gsc-search-button-v2"><svg width="13" height="13" viewBox="0 0 13 13">
<title>search</title>
<path
d="m4.8495 7.8226c0.82666 0 1.5262-0.29146 2.0985-0.87438 0.57232-0.58292 0.86378-1.2877 0.87438-2.1144 0.010599-0.82666-0.28086-1.5262-0.87438-2.0985-0.59352-0.57232-1.293-0.86378-2.0985-0.87438-0.8055-0.010599-1.5103 0.28086-2.1144 0.87438-0.60414 0.59352-0.8956 1.293-0.87438 2.0985 0.021197 0.8055 0.31266 1.5103 0.87438 2.1144 0.56172 0.60414 1.2665 0.8956 2.1144 0.87438zm4.4695 0.2115 3.681 3.6819-1.259 1.284-3.6817-3.7 0.0019784-0.69479-0.090043-0.098846c-0.87973 0.76087-1.92 1.1413-3.1207 1.1413-1.3553 0-2.5025-0.46363-3.4417-1.3909s-1.4088-2.0686-1.4088-3.4239c0-1.3553 0.4696-2.4966 1.4088-3.4239 0.9392-0.92727 2.0864-1.3969 3.4417-1.4088 1.3553-0.011889 2.4906 0.45771 3.406 1.4088 0.9154 0.95107 1.379 2.0924 1.3909 3.4239 0 1.2126-0.38043 2.2588-1.1413 3.1385l0.098834 0.090049z">
</path>
</svg></button></td>
<td class="gsc-clear-button">
<div class="gsc-clear-button" title="clear results"> </div>
</td>
</tr>
</tbody>
</table>
</form>POST https://www.createsend.com/t/subscribeerror?description=
<form class="js-cm-form" id="subForm" action="https://www.createsend.com/t/subscribeerror?description=" method="post"
data-id="92D4C54F0FEC16E5ADC2B1904DE9ED1A195BA2BFB0A2FD047D07BC32434A2307AFC07BDE7EE036E324AE0D8B39BFDE159C08EA858EE0F9D98711B3DBEDD6CEA0">
<div>
<div><input autocomplete="Email" aria-label="Email" class="js-cm-email-input qa-input-email" id="fieldEmail" maxlength="200" name="cm-jkkucl-jkkucl" placeholder="Your email" required="" type="email"></div>
</div><button type="submit" class="js-cm-submit-button">Sign me up</button>
</form><form autocomplete="off" role="search" class="jetpack-instant-search__search-results-search-form">
<div class="jetpack-instant-search__search-form">
<div class="jetpack-instant-search__box"><label class="jetpack-instant-search__box-label" for="jetpack-instant-search__box-input-1">
<div class="jetpack-instant-search__box-gridicon"><svg class="gridicon gridicons-search " focusable="true" height="24" viewBox="0 0 24 24" width="24" xmlns="http://www.w3.org/2000/svg" aria-hidden="false" style="height: 24px; width: 24px;">
<title>Magnifying Glass</title>
<g>
<path d="M21 19l-5.154-5.154C16.574 12.742 17 11.42 17 10c0-3.866-3.134-7-7-7s-7 3.134-7 7 3.134 7 7 7c1.42 0 2.742-.426 3.846-1.154L19 21l2-2zM5 10c0-2.757 2.243-5 5-5s5 2.243 5 5-2.243 5-5 5-5-2.243-5-5z"></path>
</g>
</svg></div><input autocomplete="off" id="jetpack-instant-search__box-input-1" class="search-field jetpack-instant-search__box-input" inputmode="search" placeholder="Search…" type="search"><button class="screen-reader-text assistive-text"
tabindex="-1">Search</button>
</label></div>
</div>
</form>Text Content
Toggle navigation Toggle navigation
* Home
* Investigations
* Scorpio
* Our Burning Planet
* Amabhungane
* Declassified UK
* News & Analysis
* Business Maverick
* Maverick Citizen
* Sport
* Newsdeck
* Maverick News
* Features
* Opinionistas
* Maverick Life
* TGIFood
* Covid-19
* Podcasts
* Webinars
* Zapiro
* Newsletters
* Newspaper
* E-Edition
* Contact Us
* Search
GO
DM IS MUCH BETTER IF YOU ARE SIGNED IN...
Enter your email below, and we will send you a mail with a link or One-time pin
to login.
Send email to login
A code has been sent to .... Please check you email address.
Please enter the One Time Pin Below:
Didn't get the code? Resend email
IT LOOKS LIKE WE DON’T HAVE AN ACCOUNT FOR THIS.
WOULD YOU LIKE US TO CREATE AN ACCOUNT FOR YOU?
Create a new account
Sign in with password
LOGIN WITH A PASSWORD
or
Continue with Facebook
Continue with Google
Remember Me
Forgot Password?
Use a One Time Pin?
GET SUPPORT
DM SHOP
Shop SUPPORT DM Login
×
search
Custom Search
Sort by:
Date
Date
Relevance
SCORPIO
SCORPIO
SARB FREEZES BILLIONS IN STEINHOFF ACCOUNTS — BUT YOU WOULDN’T NOTICE IN COMPANY
FINANCIAL STATEMENTS
Illustrative image | Former Steinhoff CEO Markus Jooste. (Photo: Gallo Images /
Brenton Geach) | Executive directors Theodore de Klerk (glasses) and Louis du
Preez. (Photo: Dwayne Senior / Bloomberg via Getty Images / Supplied) | A
Steinhoff International Holdings logo in Stellenbosch, 2016. (Photo: Waldo
Swiegers / Bloomberg via Getty Images) | Nadine Hutton / Bloomberg via Getty
Images
By Pauli van Wyk
Follow Following
05 Jul 2023
Follow Following
6
THE SOUTH AFRICAN RESERVE BANK FROZE THE FUNDS IN FIVE ACCOUNTS LINKED TO
STEINHOFF’S LOCAL OPERATIONS – SAID TO HOLD A CUMULATIVE VALUE OF ABOUT R5.5BN.
THE RESERVE BANK’S INTERVENTION IS SURE TO TIE A KNOT IN OPERATIONS BUT HAS NOT
BEEN DECLARED IN SO MANY WORDS IN STEINHOFF’S LATEST ANNUAL FINANCIAL
STATEMENTS. SOME CHUTZPAH FOR A COMPANY PREVIOUSLY FOUND TO HAVE MISREPRESENTED
ITS FINANCIAL STATEMENTS.
THIS ARTICLE IS FREE TO READ.
SIGN UP FOR FREE OR SIGN IN TO CONTINUE READING.
UNLIKE OUR COMPETITORS, WE DON'T FORCE YOU TO PAY TO READ THE NEWS, BUT WE DO
NEED YOUR EMAIL ADDRESS TO MAKE YOUR EXPERIENCE BETTER.
CREATE YOUR FREE ACCOUNT OR SIGN IN
FAQ | CONTACT US
NEARLY THERE! CREATE A PASSWORD TO FINISH SIGNING UP WITH US:
YOU WANT TO RECEIVE FIRST THING, OUR FLAGSHIP NEWSLETTER. OPT OUT AT ANY TIME.
PLEASE ENTER YOUR PASSWORD OR GET A SIGN IN LINK IF YOU’VE FORGOTTEN
OPEN SESAME! THANKS FOR SIGNING UP.
Listen to this article
0:00 / 8:01
1X
BeyondWords
The SA Reserve Bank (SARB) seems to have a strong suspicion that Steinhoff,
under the management of ex-CEO Markus Jooste, breached the country’s exchange
control regulations.
The central bank’s Financial Surveillance Department sent an order to FirstRand
Bank in May to freeze five accounts linked to Steinhoff International Holdings
(Pty) Limited, Steinhoff Investment Holdings Limited and Steinhoff Africa
Holdings (Pty) Limited.
A DAILY ROUND UP OF THE WORLD OF BUSINESS, WITHOUT ANY OF THE BULL.
LET TIM COHEN PUT THE MARKETS INTO PERSPECTIVE, DIRECT TO YOUR INBOX EVERY
WEEKDAY AT 19:00.
Sign me up
The accounts are said to have held a total of at least R5.5-billion at the time,
a figure supported by the company’s latest annual financial statements.
The action is part of a broad SARB investigation – codenamed Project Castle –
into seminal wrongdoing at Steinhoff. The global retailer became infamous for
being the incubator of South Africa’s biggest fraud since Jooste’s startling
resignation in December 2017, a perception bolstered by a 2019 PwC forensic
report which included in its findings that Steinhoff declared “income” of
€6.5-billion from fictitious and/or irregular transactions in the company’s
annual financial statements going as far back as 2009.
In an email to Scorpio, Steinhoff CFO Theodore de Klerk did not answer questions
pertaining to the exact reasons for the SARB’s suspicions, or whether
Steinhoff’s current management will ask a court to review the SARB decision.
The freezing order allows no funds in the Steinhoff accounts to be withdrawn
without the SARB’s express approval. The reason is that, if the SARB finds that
Steinhoff did indeed contravene South Africa’s exchange control regulations, a
part or the entire sum of frozen cash can be forfeited to the state.
Based on a hot-headed court fight between the SARB and polo-playing socialite
Berdine Odendaal, Jooste’s girlfriend and beneficiary of at least R60-million in
questionable Steinhoff money which last year was also frozen under Project
Castle, we know that SARB carefully scrutinises all applications for withdrawals
and is prepared to delay or decline the release of funds when deemed necessary.
What is more: All applications for the funds must be made under oath. It means
Steinhoff will have to draft a well supported application under oath to the SARB
every time the company needs to pay for as much as a mattress – all the while
sitting on its hands during the days or weeks the SARB ponders the decision.
A freezing order being one of the SARB’s sharpest teeth, the length of time it
will take to effect any payment to any creditor, the possibility that the entire
sum may be forfeited to the state and with the Odendaal example on their front
stoep, Steinhoff management can therefore expect the SARB freezing order to
possibly materially influence operations.
Adding to Steinhoff’s headache is that the group’s total liabilities exceed its
total assets – solvency and liquidity are already under pressure.
It is surprising, then, to note nothing appears in Steinhoff’s latest financials
that sounds like “Dear Creditor and Investor, SARB froze our bank accounts”.
Steinhoff’s unaudited financial results for the six months ended 31 March 2023
are published here.
There is no mention of the SARB using one of the toughest measures available to
it against the company in the financial statements section headed “regulatory
engagement”. Nor is it mentioned under “risk management”. The heading “events
after the reporting date” even notes this questionable sentence: “Apart from the
events set out above, no material events have occurred after the Reporting
Date.”
AMBIGUOUS DESCRIPTION
The single paragraph in the entire 76-page financial statements document that
may lift a reader’s eyebrow in confusion, is this: “…accounts holding
€285.6-million (ZAR5.52-billion) of the Group’s funds are subject to SARB
approval prior to making any withdrawals. Any conditions required by SARB
relating to their approval for withdrawals and the time frame relating thereto
is currently unknown to the Group.”
This ambiguous description of the latest Steinhoff crisis appears under the
headings “regulatory engagement” and “risk management” as well as in an
explainer underneath the cash flow statement. The same wording is repeated once
in the document as a footnote.
The average businessperson is, however, very aware that any money moving in and
out of the country must – under perfectly normal and legitimate circumstances –
be “cleared by SARB”.
The question then is whether the Steinhoff financial statements document is
clear enough to assist a person not educated in forensic financial
investigations – say, the owner of a clothing brand, a doctor or a teacher – to
differentiate between the movement of legal funds and that of suspicious, frozen
funds which may be forfeited to the state.
The fact that no sharp financial analyst or journalist has yet picked up on
Steinhoff management’s impossibly vague description – or omission – of “SARB
froze our accounts” is, perhaps, quite indicative.
Steinhoff’s CEO, Louis du Preez, did not answer his phone. Steinhoff’s board
chair, Moira Moses, referred questions to the company CFO.
Steinhoff CFO Theodore de Klerk did not answer a list of questions about the
SARB freezing the company accounts – including whether local and offshore
creditors were informed of the latest SARB action. De Klerk simply repeated the
obscure description above, adding that “the above was clearly disclosed” (our
emphasis in bold).
We add his full comment here:
In late June, about a month after the SARB froze Steinhoff’s local accounts, a
Dutch court confirmed Steinhoff’s plan to change from a listed company owned by
shareholders to a delisted group under the control of its creditors.
Locally, PSG Securities sent an email to its clients this week about engaging
with Steinhoff in the matter of investor payouts.
De Klerk also did not answer questions about the impact the SARB order may have
on these business operations.
***
The SARB action against Steinhoff follows movement against individuals seemingly
responsible, in part, for the group’s woes.
In October last year, the SARB attached Jooste’s assets of about R1.4-billion,
which include Lanzerac Wine Estate in Stellenbosch, four pieces of land linked
to boutique winery Klein Gustrouw in Stellenbosch, the content of Jooste’s
Hermanus compound in Hermanus, the Jooste family’s Silver Oak Trust and five
cars registered to his wife and chauffeur.
In the meantime, a German court has issued a warrant of arrest for Jooste.
The assets of Chris Grové, Steinhoff’s former manager for risk (and a former
SARB employee) as well as that of Ben la Grange, former Steinhoff CFO, were also
attached last year, as detailed here by News24.
In April 2021, the SARB also attached assets and froze bank accounts linked to
Odendaal, as Daily Maverick wrote here. DM
Share to Facebook Facebook Share to Twitter Twitter Share to Email App Email App
Share to WhatsApp WhatsApp
Hide
WE WOULD LIKE OUR READERS TO START PAYING FOR DAILY MAVERICK...
…but we are not going to force you to. Over 10 million users come to us each
month for the news. We have not put it behind a paywall because the truth should
not be a luxury.
Instead we ask our readers who can afford to contribute, even a small amount
each month, to do so.
If you appreciate it and want to see us keep going then please consider
contributing whatever you can.
Support Daily Maverick→
* Markus Jooste
* Pauli van Wyk
* Project Castle
* SA Reserve Bank
* Steinhoff
--------------------------------------------------------------------------------
COMMENTS - SHARE YOUR KNOWLEDGE AND EXPERIENCE
Please note you must be a Maverick Insider to comment. Sign up here or sign in
if you are already an Insider.
Everybody has an opinion but not everyone has the knowledge and the experience
to contribute meaningfully to a discussion. That’s what we want from our
members. Help us learn with your expertise and insights on articles that we
publish. We encourage different, respectful viewpoints to further our
understanding of the world. View our comments policy here.
All Comments 6
* graemebirddurban says:
6 July 2023 at 10:59
Nothing from the anti-cANCer crew and supposedly passionate fighters for
accountability in SA who are regularly seen spewing their rabid stuff in the
DM comments section? Are these guys too white? Look too much like DA
supporters?
Log in to Reply
* Ruby Delahunt says:
6 July 2023 at 15:28
I was wondering the same thing! A Scorpio article on corruption with no
comments? How interesting…
Log in to Reply
* Johann Olivier says:
6 July 2023 at 23:32
Yes. Notable. Thieves are thieves. Apparently, non-ANC thieves seem to be
overlooked. I guess one big difference. This is just good old time
corporate larceny – indirect thieving from the government (taxes, thus the
South African people). The ANC steals directly from the coffers. The latter
has a fiduciary responsibility to the people of the entire country. The
former? Not so much. Shareholders &, possibly, stakeholders.
Log in to Reply
* Gerrie Pretorius says:
6 July 2023 at 16:47
Jooste should have been jailed long ago. The keys thrown away, so he gets his
breakfast pap late afternoon.
Log in to Reply
* Johan Buys says:
6 July 2023 at 20:13
One of these days all the corrupt old oom will buy control of Steinhoff for
peanuts and bury it and with it the claims the company should have instituted
against them. Imagine the tax losses you can buy for pennies on the pound!
Log in to Reply
* Dee Bee says:
7 July 2023 at 07:52
Jooste and all those who fleeced their investors (which I’m assuming means
most of us who have pensions related to the JSE) need to be chucked in prison
for life. I can understand – not justify – stealing to keep a roof over your
head in this shambles of country thanks to the ANC, but this was simple
greed, on an industrial scale to sustain a lifestyle he wasn’t entitled to.
No better than the State Capture crowd, to be honest.
Log in to Reply
Adverts on/off? You choose.
Listen to this article
0:00 / 8:01
1X
BeyondWords
TOP READS THIS HOUR
Maverick News
PWC QUIT, TWICE, AND SAFA MILLIONS QUESTIONABLY AND POSSIBLY UNLAWFULLY
SUPPORTED JORDAAN & HLUYO
South Africa
TRUCK ATTACKS – FIVE TORCHED ON N4 IN WATERVAL BOVEN, FOLLOWS SIMILAR ATTACK ON
N3
Maverick News
SNOWFALL BLANKETS PARTS OF JOHANNESBURG AS FREEZING WINTER WEATHER CONTINUES TO
BITE GAUTENG
Ukraine Crisis
EX-CHAIR OF RUSSIAN 2022 NOBEL PEACE PRIZE WINNER MEMORIAL SPEAKS OUT ON THE
TRUTHS BEHIND THE WAR ON UKRAINE
South Africa
WHAT YOU NEED TO KNOW ABOUT YOUR TAX AUTO ASSESSMENT
TOP READS IN SECTION
Maverick News
SAFA PRESIDENT DANNY JORDAAN SUBMITS WARNING STATEMENT TO THE HAWKS AFTER
FINANCIAL MISDEMEANOUR CLAIMS
Maverick News
RAMAPHOSA: ‘NO PROOF OR SUBSTANCE OF PLOT TO OUST MASHATILE’
Maverick News
SNOWFALL BLANKETS PARTS OF JOHANNESBURG AS FREEZING WINTER WEATHER CONTINUES TO
BITE GAUTENG
Maverick News
PWC QUIT, TWICE, AND SAFA MILLIONS QUESTIONABLY AND POSSIBLY UNLAWFULLY
SUPPORTED JORDAAN & HLUYO
Maverick News
FORMER MOZAMBIQUE FINANCE MINISTER MANUEL CHANG TO FLY TO US TO FACE GRAFT
CHARGES
SPONSORED CONTENT
Sponsored Content
HOUSE FIRES – 14 MUST READ SAFETY TIPS
Sponsored Content
UNLOCK SOUTH AFRICA’S FUTURE BY MEDIATING THE IMPACT OF TRAUMA ON LEARNING
Sponsored Content
WHATSAPP FOR BUSINESS OPENS DOORS TO 21-MILLION SOUTH AFRICANS
Sponsored Content
CHATGPT & AI – THE 21ST CENTURY CALCULATOR
Sponsored Content
OPPENHEIMER – A TRULY CINEMATIC EXPERIENCE
Share to Facebook Facebook Share to Twitter Twitter Share to Email App Email App
Share to WhatsApp WhatsApp
Hide
INVESTIGATIONS
* Scorpio
* Our Burning Planet
* amaBhungane
* Maverick Citizen
* Declassified UK
* Contact Us
INVESTIGATIONS
* Scorpio
* Our Burning Planet
* amaBhungane
* Maverick Citizen
* Declassified UK
* Contact Us
NEWS & ANALYSIS
* Business Maverick
* Maverick Citizen
* Maverick Sports
* Newsdeck
* Contact Us
NEWS & ANALYSIS
* Business Maverick
* Maverick Citizen
* Maverick Sports
* Newsdeck
* Contact Us
FEATURES
* Opinionista
* Maverick Life
* TGIFood
* COVID-19
* Podcasts
* Zapiro
FEATURES
* Opinionista
* Maverick Life
* TGIFood
* COVID-19
* Podcasts
* Zapiro
NEWSLETTERS
* First Thing
* Business Maverick
* Judith’s Prudence
* SME
* Life & Books
* TGIFood
* Zapiro
* Sports
* Advertise with us
* Sales Deck
NEWSLETTERS
* First Thing
* Business Maverick
* Judith’s Prudence
* SME
* Life & Books
* TGIFood
* Zapiro
* Sports
* Advertise with us
* Sales Deck
COMMUNITY
* About us
* Membership
* Events & Webinars
* Follow us on twitter
* Follow us on facebook
* Announcements
* Buy Books & Swag
* DM’s 10 Year Story
* Help Centre
* Contact us
COMMUNITY
* About us
* Membership
* Events & Webinars
* Announcements
* Buy Books & Swag
* DM’s 10 Year Story
* Help Centre
* Contact us
DM168
* E-Edition
* Contact Us
DM168
* E-Edition
* Contact Us
Daily Maverick © All rights reserved
We use cookies on our website to give you the most relevant experience by
remembering your preferences and repeat visits. By clicking “Accept All”, you
consent to the use of ALL the cookies. However, you may visit "Cookie Settings"
to provide a controlled consent.
Cookie SettingsAccept All
Manage consent
Close
PRIVACY OVERVIEW
This website uses cookies to improve your experience while you navigate through
the website. Out of these, the cookies that are categorized as necessary are
stored on your browser as they are essential for the working of basic
functionalities of the ...
Necessary
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly.
These cookies ensure basic functionalities and security features of the website,
anonymously.
CookieDurationDescription__cfduid1 monthThe cookie is used by cdn services like
CloudFlare to identify individual clients behind a shared IP address and apply
security settings on a per-client basis. It does not correspond to any user ID
in the web application and does not store any personally identifiable
information._GRECAPTCHA5 months 27 daysThis cookie is set by Google. In addition
to certain standard Google cookies, reCAPTCHA sets a necessary cookie
(_GRECAPTCHA) when executed for the purpose of providing its risk analysis.cid1
yearThis is an important cookie in making credit card transaction on the
website. It allows the online transaction without storing the credit card
information.This service is provided by Stripe.com.connect.sid1 monthThis cookie
is used for authentication and for secure log-in. It registers the log-in
information.cookielawinfo-checkbox-advertisement1 yearSet by the GDPR Cookie
Consent plugin, this cookie is used to record the user consent for the cookies
in the "Advertisement" category .cookielawinfo-checkbox-analytics11 monthsThis
cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the
user consent for the cookies in the category
"Analytics".cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR
cookie consent to record the user consent for the cookies in the category
"Functional".cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR
Cookie Consent plugin. The cookies is used to store the user consent for the
cookies in the category "Necessary".cookielawinfo-checkbox-others11 monthsThis
cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the
user consent for the cookies in the category
"Other.cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR
Cookie Consent plugin. The cookie is used to store the user consent for the
cookies in the category "Performance".CookieLawInfoConsent1 yearRecords the
default button state of the corresponding category & the status of CCPA. It
works only in coordination with the primary cookie.elementorneverThis cookie is
used by the website's WordPress theme. It allows the website owner to implement
or change the website's content in real-time.JSESSIONIDsessionUsed by sites
written in JSP. General purpose platform session cookies that are used to
maintain users' state across page requests.PHPSESSIDsessionThis cookie is native
to PHP applications. The cookie is used to store and identify a users' unique
session ID for the purpose of managing user session on the website. The cookie
is a session cookies and is deleted when all the browser windows are
closed.viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent
plugin and is used to store whether or not user has consented to the use of
cookies. It does not store any personal data.
Functional
Functional
Functional cookies help to perform certain functionalities like sharing the
content of the website on social media platforms, collect feedbacks, and other
third-party features.
CookieDurationDescription__atuvc1 year 1 monthThis cookie is set by Addthis to
make sure you see the updated count if you share a page and return to it before
our share count cache is updated.__atuvs30 minutesThis cookie is set by Addthis
to make sure you see the updated count if you share a page and return to it
before our share count cache is updated.__cf_bm30 minutesThis cookie is set by
CloudFlare. The cookie is used to support Cloudflare Bot Management.__pvi1
dayThis cookie is used for the implementation of the news content from other
sites.bcookie2 yearsThis cookie is set by linkedIn. The purpose of the cookie is
to enable LinkedIn functionalities on the page.lidc1 dayThis cookie is set by
LinkedIn and used for routing.
Performance
Performance
Performance cookies are used to understand and analyze the key performance
indexes of the website which helps in delivering a better user experience for
the visitors.
CookieDurationDescriptiond3 monthsThis cookie tracks anonymous information on
how visitors use the website.
Analytics
Analytics
Analytical cookies are used to understand how visitors interact with the
website. These cookies help provide information on metrics the number of
visitors, bounce rate, traffic source, etc.
CookieDurationDescription__gads1 year 24 daysThis cookie is set by Google and
stored under the name dounleclick.com. This cookie is used to track how many
times users see a particular advert which helps in measuring the success of the
campaign and calculate the revenue generated by the campaign. These cookies can
only be read from the domain that it is set on so it will not track any data
while browsing through another sites._ga2 yearsThis cookie is installed by
Google Analytics. The cookie is used to calculate visitor, session, campaign
data and keep track of site usage for the site's analytics report. The cookies
store information anonymously and assign a randomly generated number to identify
unique visitors._ga_Y7XD5FHQVG2 yearsThis cookie is installed by Google
Analytics._gat_UA-10686674-11 minuteThis is a pattern type cookie set by Google
Analytics, where the pattern element on the name contains the unique identity
number of the account or website it relates to. It appears to be a variation of
the _gat cookie which is used to limit the amount of data recorded by Google on
high traffic volume websites._gid1 dayThis cookie is installed by Google
Analytics. The cookie is used to store information of how visitors use a website
and helps in creating an analytics report of how the website is doing. The data
collected including the number visitors, the source where they have come from,
and the pages visted in an anonymous form.ajs_anonymous_idneverThis cookie is
set by Segment.io to check the number of ew and returning visitors to the
website.ajs_user_idneverThe cookie is set by Segment.io and is used to analyze
how you use the websiteANON_ID3 monthsThis cookie is provided by Tribalfusion.
The cookie is used to give a unique number to visitors, and collects data on
user behaviour like what page have been visited. This cookie also helps to
understand which sale has been generated by as a result of the advertisement
served by third party.jam_heavy_ga_session5 yearsThis cookie is installed by
Google Analytics.UserID13 monthsThe cookie sets a unique anonymous ID for a
website visitor. This ID is used to continue to identify users across different
sessions and track their activities on the website. The data collected is used
for analysis.uvc1 year 1 monthThe cookie is set by addthis.com to determine the
usage of Addthis.com service.
Advertisement
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and
marketing campaigns. These cookies track visitors across websites and collect
information to provide customized ads.
CookieDurationDescription__tbc2 yearsThis cookie is used for measuring the
efficiency of advertisement by registering data on visitors from multiple
website._cc_aud8 months 26 daysThe cookie is set by crwdcntrl.net. The purpose
of the cookie is to collect statistical information in an anonymous form about
the visitors of the website. The data collected include number of visits,
average time spent on the website, and the what pages have been loaded. These
data are then used to segment audiences based on the geographical location,
demographic, and user interest provide relevant content and for advertisers for
targeted advertising._cc_ccsessionThe cookie is set by crwdcntrl.net. The
purpose of the cookie is to collect statistical information in an anonymous form
about the visitors of the website. The data collected include number of visits,
average time spent on the website, and the what pages have been loaded. These
data are then used to segment audiences based on the geographical location,
demographic, and user interest provide relevant content and for advertisers for
targeted advertising._cc_dc8 months 26 daysThe cookie is set by crwdcntrl.net.
The purpose of the cookie is to collect statistical information in an anonymous
form about the visitors of the website. The data collected include number of
visits, average time spent on the website, and the what pages have been loaded.
These data are then used to segment audiences based on the geographical
location, demographic, and user interest provide relevant content and for
advertisers for targeted advertising._cc_id8 months 26 daysThe cookie is set by
crwdcntrl.net. The purpose of the cookie is to collect statistical information
in an anonymous form about the visitors of the website. The data collected
include number of visits, average time spent on the website, and the what pages
have been loaded. These data are then used to segment audiences based on the
geographical location, demographic, and user interest provide relevant content
and for advertisers for targeted advertising._kuid_5 months 27 daysThe cookie is
set by Krux Digital under the domain krxd.net. The cookie stores a unique ID to
identify a returning user for the purpose of targeted advertising._rxuuid1
yearThe main purpose of this cookie is targeting, advertesing and effective
marketing. This cookie is used to set a unique ID to the visitors, which allow
third party advertisers to target the visitors with relevant advertisement up to
1 year.ANON_ID_old3 monthsThis cookie helps to categorise the users interest and
to create profiles in terms of resales of targeted marketing. This cookie is
used to collect user information such as what pages have been viewed on the
website for creating profiles.bscookie2 yearsThis cookie is a browser ID cookie
set by Linked share Buttons and ad tags.CMID1 yearThe cookie is set by
CasaleMedia. The cookie is used to collect information about the usage behavior
for targeted advertising.CMPRO3 monthsThis cookie is set by Casalemedia and is
used for targeted advertisement purposes.CMPS3 monthsThis cookie is set by
Casalemedia and is used for targeted advertisement purposes.CMST1 dayThe cookie
is set by CasaleMedia. The cookie is used to collect information about the usage
behavior for targeted advertising.DSID1 hourThis cookie is setup by
doubleclick.net. This cookie is used by Google to make advertising more engaging
to users and are stored under doubleclick.net. It contains an encrypted unique
ID.google_push5 minutesThis cookie is set by the Bidswitch. This cookie is used
to collect statistical data related to the user website visit such as the number
of visits, average time spent on the website and what pages have been loaded.
This collected information is used to sort out the users based on demographics
and geographical locations inorder to serve them with relevant online
advertising.i1 yearThe purpose of the cookie is not known yet.id3 monthsThe main
purpose of this cookie is targeting and advertising. It is used to create a
profile of the user's interest and to show relevant ads on their site. This
Cookie is set by DoubleClick which is owned by Google.IDE1 year 24 daysUsed by
Google DoubleClick and stores information about how the user uses the website
and any other advertisement before visiting the website. This is used to present
users with ads that are relevant to them according to the user profile.IDSYNC1
yearThis cookie is used for advertising purposes.KADUSERCOOKIE3 monthsThe cookie
is set by pubmatic.com for identifying the visitors' website or device from
which they visit PubMatic's partners' website.KTPCACOOKIE1 dayThis cookie is set
by pubmatic.com for the purpose of checking if third-party cookies are enabled
on the user's website.ljt_reader1 yearThis is a Lijit Advertising Platform
cookie. The cookie is used for recognizing the browser or device when users
return to their site or one of their partner's site.loc1 year 1 monthThis cookie
is set by Addthis. This is a geolocation cookie to understand where the users
sharing the information are located.mc1 year 1 monthThis cookie is associated
with Quantserve to track anonymously how a user interact with the
website.mt_mop1 monthStores information about how the user uses the website such
as what pages have been loaded and any other advertisement before visiting the
website for the purpose of targeted advertisements.personalization_id2 yearsThis
cookie is set by twitter.com. It is used integrate the sharing features of this
social media. It also stores information about how the user uses the website for
tracking and targeting.suid_legacy1 yearThis cookie is used to collect
information on user preference and interactioin with the website campaign
content. This cookie is used for promoting events and products by the webiste
owners on CRM-campaign-platform.TDCPM1 yearThe cookie is set by CloudFlare
service to store a unique ID to identify a returning users device which then is
used for targeted advertising.TDID1 yearThe cookie is set by CloudFlare service
to store a unique ID to identify a returning users device which then is used for
targeted advertising.test_cookie15 minutesThis cookie is set by doubleclick.net.
The purpose of the cookie is to determine if the user's browser supports
cookies.tluid3 monthsThis cookie is set by the provider AdRoll.This cookie is
used to identify the visitor and to serve them with relevant ads by collecting
user behaviour from multiple websites.tuuid1 yearThis cookie is set by
.bidswitch.net. The cookies stores a unique ID for the purpose of the
determining what adverts the users have seen if you have visited any of the
advertisers website. The information is used for determining when and how often
users will see a certain banner.tuuid_lu1 yearThis cookie is set by
.bidswitch.net. The cookies stores a unique ID for the purpose of the
determining what adverts the users have seen if you have visited any of the
advertisers website. The information is used for determining when and how often
users will see a certain banner.uid5 months 27 daysThis cookie is used to
measure the number and behavior of the visitors to the website anonymously. The
data includes the number of visits, average duration of the visit on the
website, pages visited, etc. for the purpose of better understanding user
preferences for targeted advertisments.uuid1 year 27 daysTo optimize ad
relevance by collecting visitor data from multiple websites such as what pages
have been loaded.VISITOR_INFO1_LIVE5 months 27 daysThis cookie is set by
Youtube. Used to track the information of the embedded YouTube videos on a
website.wfivefivec1 year 1 monthThe domain of this cookie is owned by Dataxu.
The main business activity of this cookie is targeting and advertising. This
cookie tracks the advertisement report which helps us to improve the marketing
activity.xbc2 yearsThis cookie is used for optmizing the advertisement on the
website more relevant by analysing the user behaviour and interaction with the
website.YSCsessionThis cookies is set by Youtube and is used to track the views
of embedded videos.
Others
Others
Other uncategorized cookies are those that are being analyzed and have not been
classified into a category as yet.
CookieDurationDescription__browsiSessionID30 minutesNo description
available.__browsiUID1 yearNo description available.__cflb23 hoursThis cookie is
used by Cloudflare for load balancing.__gpi1 year 24 daysNo
descriptionajs_group_idneverThis cookie is set by Segment.io. The purpose of the
cookie is currently not identified.blkbs6 days 23 hoursNo
descriptioncharitable_session1 dayNo description available.cookietestsessionNo
descriptiondebugneverNo description available.gCStest7 years 1 month 26 days 16
hoursNo descriptionmuc_ads2 yearsNo descriptionrevengine_browser_idsessionNo
descriptionrevengine-browser-tokensessionRevEngine Data Tool.rl_user_idneverNo
description available.tf_respondent_cc6 monthsNo descriptionUserMatchHistory1
monthLinkedin - Used to track visitors on multiple websites, in order to present
relevant advertisement based on the visitor's preferences.vic_loc_error10
minutesNo descriptionvicinity_id1 year 10 months 24 days 11 hoursVicinity
Advertising.
SAVE & ACCEPT
Powered by
PLEASE PEER REVIEW 3 COMMUNITY COMMENTS BEFORE YOUR COMMENT CAN BE POSTED
looks goodnomis/disinformation?
BECOME AN INSIDER
There are many great benefits to being a Maverick Insider. Removing advertising
from your browsing experience is one of them - we don't just block ads, we
redesign our pages to look smarter and load faster.
Click here to see other benefits and to sign-up to our reader community
supporting quality, independent journalism.
Find out More
word word word word word word word word word word word word word word word word
word word word word word word word word word word word word word word word word
word word word word word word word word word word word word word word word word
word word word word word word word word word word word word word word word word
word word word word word word word word word word word word word word word word
word word word word word word word word word word word word word word word word
word word word word word word word word word word word word word word word word
word word word word word word word word word word word word word word word word
word word word word word word word word word word word word word word word word
word word word word word word word word word word word word word word word word
word word word word word word word word word word word word word word word word
word word word word word word word word word word word word word word word word
word word word word word word word word
mmMwWLliI0fiflO&1
mmMwWLliI0fiflO&1
mmMwWLliI0fiflO&1
mmMwWLliI0fiflO&1
mmMwWLliI0fiflO&1
mmMwWLliI0fiflO&1
mmMwWLliI0fiflO&1
SEARCH RESULTS
Magnifying Glass
Search
Close search results
Sort by:
Relevance•Newest•Oldest
NO RESULTS FOUND
FILTER OPTIONS
Close Search
Search powered by Jetpack