Global consultancy firm McKinsey has set aside the R1bn Eskom has demanded it repay, and is keen to pay back the money, McKinsey global leader for the public and social sector practice David Fine said on Wednesday. Fine was giving evidence before the inquiry into state capture being held by Parliament’s public enterprises committee. The money was paid for McKinsey’s work on a turnaround plan, but the Treasury did not approve of the contract. “McKinsey does not want any tainted money. We went into a relationship with Eskom in good faith,” Fine said. Eskom had given verbal confirmation that the contract had all the requisite approvals. Fine said even if the court decided that the contract was valid McKinsey would still give the money back to SA, not because the firm felt guilty but because the contract did not have the required Treasury approvals. Asked by evidence leader Ntuthuzelo Vanara why McKinsey did not simply go ahead with the repayment regardless of the outcome of the court c...

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