A whistle-blower has alleged that the US software giant is routinely involved in bribery and other malfeasance across the region.
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EOH Holdings is selling several more assets as it moves to deal with the gearing problem on its balance sheet. Its shares leapt higher on the news.
The Special Investigating Unit will lodge an investigation into allegations of corruption and maladministration involving tenders awarded to EOH by the department of water & sanitation.
Exclusive | EOH Holdings is suing its co-founder and former CEO, Asher Bohbot, and its former chief financial officer, John King, for R1.7-billion in damages each. It is also pursuing several other former executives.
EOH Holdings announced on Tuesday that it has sold subsidiary Sybrin for a cash consideration of R334.4-million. The money will be used mainly to pay down debt.
The City of Johannesburg has reassured residents that the end of an SAP support contract with EOH Holdings will not affect the city’s billing system or its other IT infrastructure.
Suspicious payments flowed to a company owned by Johannesburg mayor Geoff Makhubo and to the ANC in the months directly before and after EOH landed major contracts with the city.
Debt-laden EOH Holdings is disposing of its remaining 30% interest in Construction Computer Software in an effort to further deleverage its balance sheet.
EOH Holdings’ new black empowerment partner, Lebashe Investment Group, has said it won’t subscribe for a R250-million third and final tranche of a planned R1-billion investment in the JSE-listed technology group.
EOH has been accused of ignoring calls for an independent investigation into a subsidiary company, Healthshare Health Solutions, which is accused of sabotaging a client’s business.