Several days ago, SAP was accused of being involved in a bribery scandal in South Africa. According to the accusations, the company paid a kick-back of €6.5m (10% of the total contract volume with Transnet SOC Ltd) to CAD House in 2015. CAD House is a small South African company providing 3D printers. Around 10% of the company is owned by Duduzane Zuma, the son of Jacob Zuma, the President of South Africa. In addition, several members of the Gupta family also have a stake in CAD House.
17 Jul 2017
Gaining traction
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SAP SE (SAP:WBO) | 0 0 0.2% | Mkt Cap: 103,244m
- Published:
17 Jul 2017 -
Author:
Heinz Steffen -
Pages:
2
Several days ago, SAP was accused of being involved in a bribery scandal in South Africa. According to the accusations, the company paid a kick-back of €6.5m (10% of the total contract volume with Transnet SOC Ltd) to CAD House in 2015. CAD House is a small South African company providing 3D printers. Around 10% of the company is owned by Duduzane Zuma, the son of Jacob Zuma, the President of South Africa. In addition, several members of the Gupta family also have a stake in CAD House.