Monday, July 17, 2017

SAP appoints new African MD;PROBE INTO GUPTA DEAL GAINS TRACTION

Software giant SAP has appointed Claas Kuehnemann as acting Managing Director for Africa, while the company investigates alleged fraudulent activities with the Gupta family.
A series of leaked emails suggested that the German corporation paid more than a R100 million in kickbacks to a Gupta front company to secure a lucrative contract with Transnet.
Last week, four executives were suspended after the reports emerged, sparking an independent investigation.
SAP executive board member Adaire Fox-Martin says that while they have suspended these executives, they still deny the claims against them.
“SAP has appointed multinational law firm Baker McKenzie to lead the external investigation in collaboration with other global experts such as forensic firm FTI Consulting.”
Kuehnemann has been with the company since 1992.

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