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BREAKING: SAP admits to paying a bribe for SOE contract

CAPE TOWN – Media reports emerged on Thursday that German software company SAP allegedly admitted to paying a bribe to secure a lucrative contract with state owned enterprises (SOEs).

They allegedly revealed to US authorities that they paid a 10% commission to a Gupta-linked company to secure a R100 million contract with South African SOEs.

Apparently SAP knew as far back as July 15 that they had paid a commission to secure contracts. The Gupta linked companies are allegedly linked to SOEs Transnet and Eskom.

The news comes a day after Finance Minister Malusi Gigaba delivered his Medium Term Budget Policy Statement (MTBPS) to parliament.