Today's Labour News

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psaeNCA reports that the Public Servants Association (PSA), whose members' pension fund lost more than R12-billion in investments in the alleged Steinhoff accounting irregularities, has called for a boycott of The Sun Met race should the horses of former Steinhoff CEO Markus Jooste compete.  

Jooste resigned as the company's chief earlier this week in the wake of the revelations.  In a statement released on Friday, the PSA said:  "According to the PSA’s information, Mr Jooste owns the favourites for the race.  For upcoming races Mr Jooste could be collecting stake monies of as much as R5-million, while under his management Steinhoff has lost billions in investments.  The PSA calls on the horseracing organisers to prevent Mr Jooste’s horses from participating in future horseraces and for Southern Sun to withdraw its sponsorship of [The Sun Met] should Jooste’s horses take part in the event.”  The Sun Met Race takes place on 28 January.  The trade union also revealed that it would meet with its lawyers at the weekend to discuss a course of action for Steinhoff directors and auditors to be declared delinquent.

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