Magda Wierzycka Steinhoff Markus Jooste

(UCTGSB / Twitter)

Magda Wierzycka wants ex-Steinhoff CEO Markus Jooste “thrown in jail”

The gloves are off in the battle of the CEOs – Magda Wierzycka has gone hell-for-leather in her assessment of Markus Jooste.

Magda Wierzycka Steinhoff Markus Jooste

(UCTGSB / Twitter)

Business leaders are known for their tough-talking approaches, but Magda Wierzycka has really laid the gauntlet down against rogue company CEOs like Markus Jooste.

As reported by City Press, she believes this would be one way to bury the hatchet of corruption in SA.

The former Steinhoff executive saw his organisation go into meltdown at the end of 2017, as one of the biggest corporate scandals in the history of South Africa was made public.

Dubious accounting irregularities attributed to Jooste resulted in $11.4 billion being wiped out by the company, with a debt of R161 billion being revealed through further investigations.

The fiasco wiped billions off of the Johannesburg Stock Exchange (JSE), and rocked investors all across Mzansi. It even saw Christo Wiese lose more than 80% of his personal fortune. But don’t feel too bad for him – Wiese still has R32 billion in the bank – more than enough for a rainy day.

What Magda Wierzycka said about Markus Jooste

Wierzycka – who is the CEO of Sygnia Asset Management and the only female billionaire business owner in South Africa – has had enough of cowboys like Jooste, and rallied against him during a keynote speech at the University of Cape Town’s Graduate School of Business:

“It is very naïve to suppose that Cyril [Ramaphosa] can just come and sweep away corruption with a paintbrush … It’ll be like taking one step forward and two steps back.

A lot of talented workers are leaving South Africa: My message is: don’t – the reality is that the grass is not greener on the other side. We need people to stay here, to contribute, to work, to grow the economy to create jobs.”

“Don’t talk about the corruption of Zuma, it is done and buried. In South Africa, we need to look to the future, and not dwell too much on the past. The crooks must go to jail, Markus Jooste first.”

The entrepreneur’s message stayed on point – she believes that it’s now vital for South Africans to talk about their country in a more positive manner. She’s fed up of people only sharing horror stories about the country and wants us to focus on a more upbeat narrative.

People are emigrating from South Africa in their drives, and Magda Wierzycka wants our students to see this as an opportunity rather than anything else: In her book, this just means the path to the top is more accessible than ever before.