SAP applogises to South Africa, reveals truth over SOE and Gupta dealings

SAP applogises to South Africa, reveals truth over SOE and Gupta dealings

"The investigation has not revealed any evidence of a payment to a South African government official, including Transnet and Eskom employees".

SAP, along with auditors KPMG and consultant McKinsey & Co., has become entangled in allegations surrounding the Guptas, who are friends with President Jacob Zuma and have been in business with his son.

Software firm SAP has voluntarily disclosed its findings in the investigation into wrongdoing at the local branch of the firm. The Indian-born family have been accused of using their connections to win lucrative state contracts and influence the appointment of government ministers.

"Since the investigation is still ongoing, and in deference to ongoing investigations of the US Department of Justice and the Securities [and] Exchange Commission, SAP can not provide further details now".

The three Gupta brothers, who reportedly relocated to South Africa from India in 1993, and Zuma have denied any wrong-doing. Its own probe was carried out by Baker & McKenzie.

More news: United Kingdom economic growth picks up slightly in third quarter

The SAP board has since chose to eliminate sales commissions on all public sector deal, "In countries with a Corruption Perceptions Index (according to Transparency International) below 50, effective immediately". In a statement issued today, SAP said it has disclosed the situation about its South Africa businesses to United States authorities.

"As a global company with a commitment to integrity and compliance, the past three months have been humbling for us", SAP executive board member Adaire Fox-Martin said in the statement.

Following an internal probe, SAP said it was launching disciplinary proceedings against three employees and that it would scrap sales commissions on all public sector contracts in countries with a poor anti-corruption rating. SAP must hand over any and all information that may have bearing on the investigation, following our charges, so that we can make sure that those involved are held accountable to the full extent of the law.

"To date the investigation has determined that, between December 2014 and November 2016, SAP concluded two contracts for the sale of software to Transnet and two contracts for the sale of software to Eskom, each with the assistance of an entity now understood to have been Gupta-related", read the statement. "We have not yet made a decision yet if we will approach South African authorities".

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