McKinsey pays back the money it received from dodgy contract

In 2017, as part of the #GuptaLeaks, amaBhungane and the investigative unit Scorpio, delved deep into what became known as the The McKinsey Dossier and the crimes perpetrated against the South African people.

They exposed how global consulting firm Mckinsey had lined up a R9.4-billion bonanza from Eskom and Transnet with the help of its Gupta-controlled partner Trillian Capital Partners and former financial head Anoj Singh. McKinsey’s contract was illegal, yet the consultancy walked away with a massive settlement.

Yesterday, almost four years after The McKinsey Dossier was published, McKinsey and Transnet released a joint statement. McKinsey is paying back the money.

Media statement byTransnet andMcKinsey & Company

[Johannesburg,25 May 2021] Transnet SOC Ltd (“Transnet”) and McKinsey & Company announce that they have finalised the settlement on the fees McKinsey committed to return to Transnet at the Judicial Commission of Inquiry in December 2020.

The full and final settlement of R870 million includes the fees paid to McKinsey in respect of the projects undertaken with Regiments Capital, plus interest.

Jointly issued by Transnet and McKinsey & Company.