December 7, 2017 / 3:54 PM / 3 months ago

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

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.

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

    “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

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