Lamola: SA will cooperate with Germany on Jooste

Prosecutors there have applied for a warrant of arrest after Jooste failed to show up for his first appearance in the Oldenburg District Court on Tuesday.

Jooste is accused of fraud related to a 2017 accounting scandal at the retailer. 

It is alleged balance sheets of the multinational were manipulated to the tune of over R20 billion.

At the time, shares plunged 98% before recovering.

Jooste has denied all knowledge of accounting fraud.

His lawyer, Bernd Gross, told the court this week that his client was unable to travel from South Africa, saying his travel documents were in the possession of South African authorities.

The Hawks and the Financial Sector Conduct Authority have denied officers confiscated Jooste's passport.

The minister says there's nothing on the South African side that's stopping Jooste from travelling to Germany.

"We always cooperate with other foreign jurisdictions requesting either our nationals or anyone in South Africa on a day-to-day basis to help them to attend to the issues of justice in their own countries and this matter of Mr Jooste is not different, we will definitely cooperate with German.

"But we will also have to look at what will become the issue of sentencing, the imposition of fines and what our laws are saying because I have already seen some of the people convicted there and looking at the issues they have alleged to have committed, it's a very serious matter that may warrant a minimum sentencing regime in our country.

"So all those things will come into play and then we will be able to cooperate and respond to the German authorities."

Steinhoff is listed on both the Johannesburg and Frankfurt securities exchanges.