DTI to probe Steinhoff compliance with companies law

South Africa’s trade and industry department said on Tuesday it would launch an investigation into the alleged governance failures and financial irregularities at retailer Steinhoff, to determine any non-compliance with the Companies Act and Regulations. “The Department of Trade and Industry and the Companies and Intellectual Property Commission(CIPC) have noted with great concern allegations of governance failures and financial irregularities at Steinhoff,” the department said.