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Smoke, Silence, and Suspicion: The Unanswered Questions Around Markus Jooste’s Death

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3 months ago

June 5, 2025

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Thirteen months on, and still no closure. Why?

It’s been over a year since former Steinhoff CEO Markus Jooste was found dead from a gunshot wound in Hermanus, just a day after receiving a staggering R475 million fine from the Financial Sector Conduct Authority (FSCA). Yet, despite the scale of the scandal and the public’s right to transparency, South African authorities have remained tight-lipped. And that silence is starting to sound a lot like complicity.

The South African Police Service (SAPS) claims the investigation into Jooste’s death is ongoing. But no substantial updates have been shared with the public—no post-mortem reports, no clarity on whether witnesses were present, and certainly no sense of urgency. In a country where economic crimes have devastated public trust and pension funds, this quiet is deafening.

A high-profile death and a deeper scandal

Jooste’s demise wasn’t just a personal tragedy—it was the culmination of one of South Africa’s biggest corporate frauds. The Steinhoff scandal wiped out billions from the country’s financial system, directly impacting the Government Employees Pension Fund (GEPF) through its investment arm, the Public Investment Corporation (PIC). According to social justice groups like the Progressive Civics Congress (PCC), Jooste’s actions compromised nearly R200 billion in public money.

“The silence from authorities only deepens public suspicion,” said PCC’s Deputy Secretary Sipho Shange. “Jooste’s death didn’t erase the scandal. It only made it harder to get justice.”

Shange also pointed a finger at labor unions, traditionally watchdogs of workers’ rights, who have been noticeably silent. “Their inaction is part of the problem. When institutions meant to protect workers fall asleep at the wheel, the consequences echo through the economy,” he said.

A culture of impunity?

Mary de Haas, a veteran violence monitor and criminologist, says this is not a new pattern. “We’ve seen too many deaths linked to high-level corruption, and the playbook is the same: sudden death, missing reports, no real investigation,” she warned.

De Haas questioned whether Jooste’s death was truly a suicide or something far more sinister. “We don’t have a confirmed post-mortem. We don’t have evidence of an inquest. The public is being asked to just accept this and move on. That’s not justice.”

The official response from SAPS has done little to inspire confidence. As of early 2025, the only statement came from the then-acting Western Cape police spokesperson, who vaguely noted that “the docket remains open.” Since then? Radio silence.

Public distrust grows louder

Social media platforms are awash with speculation. Some say Jooste took the easy way out to avoid prison. Others believe he was silenced to protect a wider network of elites. Memes, podcasts, and even street conversations hint at a deeper narrative—one where corruption is so entrenched that death becomes an escape hatch for the powerful.

“What kind of country are we when people lose their life savings and no one is held to account?” asked one frustrated Twitter user. “We don’t even get the courtesy of truth.”

It’s a sentiment that resonates across class lines. The pensioner whose monthly income shrank. The public servant whose retirement dreams vanished. The whistleblower who fears they’ll be next. Everyone feels the sting of unanswered questions.

Why transparency still matters

In a democracy, accountability isn’t optional. When a high-profile figure dies under mysterious circumstances—especially one entangled in a R200 billion fraud—transparency isn’t just good governance, it’s a civic duty.

And yet, with each passing month of silence, hope fades that the public will ever know what truly happened to Markus Jooste. Was it suicide, or was he silenced? Who stood to benefit from his death? And most importantly, what happens now to the money—your money—that vanished under his watch?

The answers matter. Not just to Jooste’s family or former colleagues, but to every South African whose trust in institutions is hanging by a thread.

South Africa can’t afford to let this become another cold case. Not when billions are missing. Not when justice is still waiting. Not when the people deserve answers.