NEWS ANALYSIS: McKinsey’s bribery admission a sober reminder of state capture
Firm reveals how former executive Vikas Sagar helped win contracts with Eskom and Transnet
09 December 2024 - 05:00
From clandestine meetings in coffee shops and restaurants in Johannesburg to wining and dining in New York, the admission of bribery of Eskom and Transnet by McKinsey lifts the veil on how brazen state capture players were in looting the coffers of the state.
McKinsey, the godfather of management consulting, in its deferred prosecution agreement with US authorities, which will see it pay $122m in restitution, laid bare how its erstwhile executive Vikas Sagar bribed the company’s way into landing lucrative contracts with the two entities at the height of state capture...
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