Hello,
Victoria from Techpoint here,
Here”s what I’ve got for you today:
- German company settles $220m South Africa bribery probe
- A ₦142.8 million hack on Patricia
- Where to watch AFCON 2023
German company settles $220m South Africa bribery probe
SAP, a German software company, has consented to pay $220 million (R4.1 billion) to resolve investigations by the Securities and Exchange Commission (SEC) and the U.S. Justice Department.
The investigations focused on SAP’s purported bribery operations in Indonesia and South Africa.
What happened? SAP allegedly made illegal payments to officials at state-owned enterprises in South Africa and Indonesia to obtain lucrative government contracts.
These accusations stem from the state capture era in South Africa when the Gupta family business was closely associated with the administration of former President Jacob Zuma from 2008 to 2018.
In 2017, SAP said an internal investigation uncovered instances of misconduct related to business dealings with the Gupta family in the company’s operations in South Africa.
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Victoria Fakiya
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https://techpoint.africa/2024/01/12/techpoint-digest-747/
