Analysts say the recent settlement in the Steinhoff matter is a crucial step closer to remediation for the beleaguered company.
This comes as the South African Reserve Bank has officially put the Steinhoff matter to bed through a comprehensive settlement amounting to 6.3 billion rand, including interest.
The settlement follows years of extensive and highly complex investigations into the affairs of Steinhoff by the Reserve Bank.
In a statement, the SARB says it considers the settlement reasonable, proportionate, and justifiable, in light of the intricate and often competing interests involved in this protracted case.
The settlement was reached with the Ibex Group, the successor to Steinhoff. For more news, visit sabcnews.com and #SABCNews on all Social Media platforms.
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