Pityana commends McKinsey for “paying back the money”
9 July 2018
Sipho Pityana, president of Business Unity South Africa (BUSA), has commended McKinsey for paying back its fees from the controversial Eskom turnaround programme.
McKinsey has been in discussion with Eskom and the National Prosecuting Authority’s Asset Forfeiture Unit since the beginning of this year to agree on a transparent, legally appropriate process for returning the R1-billion it had been paid -- and confirmed on 6 July that this had finally been concluded.
“This is a commendable redemptive step,” Pityana said. “Multinationals that did business with the Guptas and their proxies, or which collaborated in state capture, still have a long way to go to clear their name. The McKinsey move is a step in the right direction.”
The NPA concluded earlier this year that the payments to McKinsey and its local business partner, Trillian, were illegal, involving crimes such as fraud, theft, corruption and money laundering.