This is what Steinhoff’s race to pay-off debt is costing shareholders

PUBLISHED: Tue, 17 Apr 2018 15:17:27 GMT

All eyes will be on embattled Steinhoff International on Friday as the company holds its Annual General Meeting in Amsterdam. Benguela Global Fund Managers is one of those who will be keeping a close eye on the AGM following one of the biggest corporate scandals to hit South Africa with Steinhoff at the centre of it. Speaking to CNBC Africa in a joint interview, Benguela’s Chief Investment Officer, Zwelakhe Mnguni, alongside Karl Gevers, Head of Research, say the resolution to re-appoint existing board members is unethical.

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