South Africa’s Opposition Wants Investigation into Hitachi Payments

Reuters, 29/09 11:57 CET

By Joe Brock

JOHANNESBURG (Reuters) – South Africa’s main opposition party said on Tuesday it wants police to investigate the investment arm of the ruling party after Hitachi paid to settle a U.S. investigation into improper payments made to the South African government.

Hitachi Ltd agreed on Monday to pay $19 million to settle U.S. Securities and Exchange Commission charges that it inaccurately recorded improper payments to South Africa’s ruling African National Congress (ANC) related to contracts to build two multi-billion dollar power plants.

Hitachi did not admit wrongdoing in agreeing to the settlement.

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Source: Euronews