SAP to investigate Gupta corruption allegations

Enterprise application software provider SAP has initiated an independent investigation into allegations that it agreed to pay 10% “sales commission” to a company controlled by the Guptas to clinch business from Transnet.

The New York Stock Exchange listed company is governed by The Foreign Corrupt Practices Act, which prohibits such practices.

SAP’s probe will be spearheaded by a multinational law firm and overseen by Executive Board Member Adaire Fox-Martin, who will  vigorously review contracts awarded by SAP South Africa.

SAP has also launched an internal review and will make the results of the investigation public once it is concluded.

READ: SA’s Public Protector wants an urgent inquiry into state capture

In a statement SAP said “Consistent with company policy, SAP has brought in senior expert staff across all relevant functions while the current management team has been placed on administrative leave pending the findings of the review”.

Fox-Martin is currently travelling to South Africa to address the concerns of customers, partners and employees.

The SAP (Global) interim team are expected to arrive from Germany tomorrow morning.

Related Content

SAP’s Steve Tzikakis on why he’s bullish on Africa’s potential

The head of one of the world’s biggest tech companies believes Eskom is suffering problems endured by power generators around the world that it can help over with more training for its staff. Steve Tzikakis, President of south Europe the Middle East and Africa for tech company SAP says he is also an Afro-optimist who sees change for the better on the continent.

U.S places Gupta brothers on sanction list

The United States Treasury has added Atul, Ajay and Tony Gupta to its sanctions list as “members of a significant corruption network in South Africa” that looted state coffers. The family has been accused of state capture as a consequence of their close relationship with former President Jacob Zuma. CNBC Africa's Karabo Letlhatlha spoke to the Acting Ambassador to South Africa, David Young.

Madagascar’s business climate opening up investment opportunities

Madagascar is ranked 161 among 190 economies globally in ease of doing business while reports also show corruption levels are high. To discuss what’s being done to improve the business climate, CEO of Economic Development Board of Madagascar (EDBM), Andry Tiana Ravalomanda joins CNBC Africa for more.

China’s donation of equipment to this East African country’s parliament goes missing

Office equipment for this East African country’s parliament donated by China has gone missing after being loaded onto a shipping container.

Subscribe to our newsletter

Sign up for free newsletters and get more CNBC AFRICA delivered to your inbox

More from CNBC Africa

Does the Competition Competition have capacity to clamp down on COVID-19 profiteering?

As South Africa sees a surge in COVID-19 infections, consumers are increasingly faced with overpriced products on the shelves. The Competition Commission continues to receive complaints, from customers who are already feeling the pinch. The question is, does the Competition Competition have the capacity to clamp down on price gouging? Joining CNBC Africa for this discussion is Makgale Mohlala, Head of Cartels at the Competition Commission and Shawn van der Meulen, Partner at Webber Wentzel.

Uganda’s central bank may cap commercial bank interest rates

KAMPALA (Reuters) - Uganda’s central Bank (BoU) has threatened to cap the interest that commercial banks can charge borrowers, after the industry...

Jambojet set to resume domestic flights on July 15

Jambojet gears up for local flight resumption; lower oil imports and higher tea exports spell current account improvement and the Central Bank invites bids for millions in treasury bonds. Journalist, Joseph Bonyo joins CNBC Afric for more.

Chamber launches business clinics to support women-led businesses

Rwanda’s women entrepreneurs arm under the private sector federation body has launched a series of business clinics with the aim of supporting women-led businesses affected by the Covid-19 pandemic. CNBC Africa spoke to Agnes Samputu, Executive Director of the Rwanda Chamber of Women Entrepreneurs for more.

Partner Content

Maktech’s Godwin Makyao: Now Is A Time of Entrepreneurial Opportunity in East Africa

As an executive decision-maker in both the telecommunications and tourism industries, Godwin Makyao could not have experienced a more diverse set of...

Sanlam launches urgent job-preservation initiative in response to COVID-19

Sanlam Investments is responding to the COVID-19 pandemic through large-scale support of the recovery of South African companies, from small enterprises to...

Trending Now

Africa urged to test more as coronavirus cases exceed 500,000

The African Union Commission said on Thursday it had launched a consortium for vaccine clinical trials to be headed by the Africa CDC, which aimed to secure more than 10 late stage vaccine clinical trials as early as possible.

Malawi’s new female cabinet ministers vow to push for jobs for women

Women now hold 39% of the ministerial and deputy minister roles in the cabinet appointed by Chakwera, 65, who unseated Peter Mutharika in a re-run presidential election last month, which compared to about 20% in the previous government.

Dow, S&P 500 end lower on fears over surging virus cases but Nasdaq hits record high

he Nasdaq hit another record high, however, helped by gains in Amazon.com (AMZN.O), Microsoft Corp (MSFT.O) and Apple Inc (AAPL.O).

Eskom goes after contractors over R4bn Kusile over-payment

One of the power stations that were meant to be the saviour of South Africa’s power supply is causing controversy, even before it’s in full working order. In an explosive letter, Public Enterprises Minister Pravin Gordhan named contractors that he says Eskom over-paid by R4 billion, in the construction of Kusile power station. Sikonathi Mantshantsha, National Spokesperson of Eskom joins CNBC Africa for more
- Advertisement -