Forensic report says Transnet should go after McKinsey, Trillian and Regiments
Fundudzi Forensic Services found that Transnet paid a total of R3.26bn to the three firms
Transnet, one of the country’s most strategic state-owned enterprises (SOEs) should consider recovering tens of millions of rands paid to consultancy firms McKinsey, Trillian and Regiments Capital. This is according to a report by Fundudzi Forensic Services, commissioned by the Treasury. It has also been recommended that the report be handed to the Hawks for criminal investigation. The report found that Transnet paid a total of R3.26bn to McKinsey, Trillian and Regiments. The payments were made from the time McKinsey was appointed by Transnet in 2005 to 2017 and includes payments made to the three in respect of six projects. Fundudzi was mandated, among other things, to investigate allegations of irregularities pertaining to the appointments of the three firms. According to the report, Transnet paid McKinsey almost R2bn including VAT between March 2005 to the financial year ended March 31 2016. The SOE had paid Regiments Capital a little more than R1.08bn including VAT between March...
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