May 23, 2018 / 8:10 AM / a month ago

Crisis-hit Steinhoff repays $2.3 billion African debt

JOHANNESBURG, May 23 (Reuters) - Scandal-hit South African retailer Steinhoff has repaid its debt in Africa after its local unit used the proceeds of a fundraising to pay back 16 billion rand ($1.26 billion) in shareholder loans.

Steinhoff is fighting for survival after uncovering holes its accounts in December.

$1 = 12.6725 rand Reporting by Nqobile Dludla, editing by Louise Heavens

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