When the business behemoth Steinhoff collapsed in 2017, it took more than R200 billion off the Johannesburg Stock Exchange and devastated the retirement savings of millions of ordinary South Africans.
The collapse was caused by the discovery of accounting errors, which led to the resignation of CEO Markus Jooste.
In “Steinheist,” Showmax examines in greater detail the largest business fraud in South African history.
In the trailer, exclusive interviews will be conducted with former Jooste; former Steinhoff chairperson Christo Wiese, who remains a billionaire despite reportedly losing the majority of his wealth in the Steinhoff crash; Bruno Steinhoff, founder of Steinhoff International; Louis du Preez, the current Steinhoff CEO, who has been instrumental in the company’s remarkable recovery; and others.
Idea Candy’s three-part documentary is also up for South African Film and Television Awards in 2022. (Saftas).
Director Richard Finn Gregory stated, “Before the Steinhoff collapse, the furniture behemoth was dubbed ‘the Ikea of Africa,’ employing over 130 000 individuals across 40 brands on four continents.
” ‘Steinheist’ is the story of Markus Jooste and a R100 billion fraud that everyone bought — a two-decade-long lie. How did this come about? How did no one foresee this? Why isn’t Marcus Jooste in jail?”
The debut of “Steinheist” on Showmax will take place on September 22, with new episodes airing every Thursday until October 6.
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