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Disgraced former Steinhoff International CEO Markus Jooste reportedly committed suicide during an arrest on Thursday.

He was 63.

Newzroom Afrika reported that sources close to the Steinhoff investigation confirmed that Jooste shot himself.

This comes a day after the Financial Sector Conduct Authority (FSCA) issued a penalty of R475 million on the former Steinhoff International boss following an investigation.


According to Moneyweb, the penalty is payable to the FSCA on or before 19 April 2024.

It included a contribution of R10 million to reimburse the FSCA for reasonable costs incurred in connection with the investigation of the contravention and interest at a rate of 11.75% (as prescribed by the minister of finance in terms of the Prescribed Rate of Interest Act, 55 of 1975).

The interest is on any unpaid portion of the administrative penalty until it is fully paid.

Markus Jooste was born in Pretoria and attended Affies.

He attended both UCT and Stellenbosch universities.

He was married to Ingrid Jooste and has three children.

This is a breaking news story, more to follow.……

Meanwhile the United States of America on Wednesday issued the set strict new emission limits for automakers Wednesday, a step toward making most new American cars either electric or hybrid by 2032. The New York Times called it “one of the most significant climate regulations in the nation’s history,” and a major component of President Joe Biden’s climate agenda. The rules will likely face election-year pushback from automakers and Republicans, but the Biden administration is betting that the shift to EVs will also benefit workers. Toyota, which despite being the world’s largest automaker hasn’t fully embraced EVs, said Wednesday that “serious challenges around affordability, charging infrastructure, and supply chain” remain before the mandate can become reality.


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