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.
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.
Credit: CNBC Africa