Bain & Co Banned from UK Government Contracts for 3 Years for Involvement in South African Corruption for Former President Allies, Earned $121 Million in Fees
4th August 2022 | Hong Kong
Top management consultancy firm Bain & Co. has been banned from securing UK (United Kingdom) government contracts for 3 years for their involvement in corruption in South Africa, including links to former South Africa President Jacob Zuma. Bain & Co. is accused of helping former South Africa President Jacob Zuma allies to benefit from the South African Revenue Service (Sars), by drafting plans for the revenue service that will facilitate corruption. In the UK government speech, it is estimated that Bain & Co. had earned around $121 million (GBP 100 million) in fees for their involvement. Former South Africa President Jacob Zuma (2009 to 2018), who resigned as South Africa President in 2018 after alleged corruption during his reign, was sentenced to 15 months jail in 2021 after refusing to return to his corruption court trial. Former Bain & Co. employee Athol Williams who was the whistle-blower had testified at the South Africa (Zondo Commission) state inquiry, had left the country for fear of his life.
“ Bain & Co Banned from UK Government Contracts for 3 Years for Involvement in South African Corruption for Former President Allies, Earned $121 Million in Fees “