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SAP gives update on probe into South African business

September 22, 2017 • Breaking, Companies, Enterprise Solution, Featured, Finance & Banks, Finance and Banking, Sponsored News, Technology

Gupta brothers

JOHANNESBURG – SYSTEMS Applications Products (SAP), the global software company, will provide an update on investigations into alleged impropriety by its South African entity, in October.

The company is accused of paying kickbacks to a company linked to the influential Gupta family to secure tenders with state-owned companies.

SAP initiated an investigation spearheaded by international law firm Baker McKenzie on July 12.

Simultaneously, SAP placed four senior executives on administrative leave pending the finalization of the investigation.

On Friday, the company said the team from Baker McKenzie has been reviewing and scrutinizing large volumes of data, talking to a variety of stakeholders and conducting interviews with all relevant people.

“We are acutely aware that we owe South Africa answers. While we understand the public’s legitimate frustration at the length of the investigation, it is imperative that we get this process right,” said Adaire Fox-Martin, member of the Executive Board of SAP SE.

The executive leads SAP’s business in Middle and Eastern Europe (MEE), Europe, Middle East and Africa (EMEA) and Greater China.

“We remain committed to delivering on our initial promise to manage this process in a transparent way and to give a full account to our employees, customers, partners and the South African public,” Fox-Martin said.

SAP reiterated commitment to the highest standards of business ethics in the more than 180 countries in which the company operates.

“SAP will not tolerate any misconduct. Any evidence of wrongdoing will be dealt with vigorously and comprehensively,” it stated on Friday.

It will provide an update on the investigations during the last week of October 2017.

– CAJ News

 

 

 

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