PwC probe: R125bn in fictitious and irregular revenue flowed through Steinhoff’s accounts

By Nicola Mawson | Published Mar 7, 2025

A groundbreaking PwC investigation, obtained through PAIA, reveals how Steinhoff orchestrated South Africa's largest corporate scandal, manipulating R125 billion through artificial revenue inflation between 2009 and 2017. The report exposes eight companies' involvement and complex financial manoeuvres that led to the company's devastating 97% market capitalisation loss.