SAP to pay R2.2 billion in restitution
· 11.01.2024 · 22:45:12 ··· ··· Thursday ·· 4 (4)
eNCA German Software giant, SAP, is coughing up after US authorities found evidence of bribery in South Africa and elsewhere. It has agreed to pay R2.2-billion to South African state entities and government departments.
Overall it will pay R4-billion to settle bribery investigations in various territories after US and South African authorities coordinated their investigations.
SAP has shares listed in the US and is therefore subject to oversight of the US Justice Department and the Securities and Exchange Commission.
Dr Iraj Abedian, the CEO of Pan African Investment and Research Services, discussed this with eNCA.
Watch the full interview: https://www.enca.com/videos/state-capture-sap-pay-r22-billion-restitution
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