NHA gives Jooste 48 hours to respond

JOHANNESBURG – The National Horseracing Authority of Southern Africa (NHA) has given former Steinhoff CEO Markus Jooste 48 hours to respond to allegations made against him for manipulating and controlling the horse industry for personal interests.

The NHA says it wants Jooste, who is heavily invested in horse racing in South Africa and abroad, to explain himself and confirm if allegations made against him are true or not.

“These are allegations at the moment, we need to wait until we know what actually transpired. There are processes in place to identify this,” said Lyndon Barends, Chief executive of the NHA.

Jooste retired from his position as CEO of Steinhoff and other boards of different companies, including Phumelela Gaming & Leisure amid allegations of accounting irregularities during his tenure.

According to Barends, Jooste must be given a chance to explain himself but added that he should not take too long to do so as people need answers.

“We have written to Mayfair Speculators, the vehicle that represents the racing interests of Mr Jooste. We have given them 48 hours to revert to the NHA insofar as Mr Jooste, Mayfair Speculators and his racing interests are concerned…,” he said.

Other parties in the horse racing industry have also accused Jooste for using his power and influence to control the entire gaming industry to the benefit of his own selfish endeavours.

“Jooste has used his investments in companies like Phumelela, Cape Thoroughbred Sales, Klawervlei Stud Farm and Mayfair Speculators to control the industry.”

It is reported the former Steinhoff boss is not only a keen horse breeder but also owns an estimate of over 800 race horses.

Photo credits – Moneyweb

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