Johannesburg – SAP, the German software giant, is coughing up after US authorities discovered evidence of bribery in South Africa and elsewhere.
State Capture: SAP to Pay R2.2 billion in Restitution to SA
It 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 countries, after US and South African authorities coordinated their investigations.
SAP’s shares are listed in the United States, making it subject to oversight by the US Justice Department and the Securities and Exchange Commission.
In South Africa, it was reported seven years ago that SAP had paid R100 million in commissions that appeared to be kickbacks to a Gupta-linked company for business at Transnet.
SAP would pay consultant companies to land state businesses all over the world, using their political clout rather than doing any actual work.
The suspicion was that some of the money was being used to bribe government officials.