McKinsey Repays $44 Million From Tainted S. Africa Contracts
- McKinsey says none of its staff have been implicated in claims
- Consultancy firm to repay 10 SAA and Transnet contracts
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McKinsey & Co. will repay 650 million rand ($44 million) for contracts it had with South African Airways and state logistics company Transnet SOC Ltd., as it seeks to clear its name in the country.
The consultancy firm’s chief risk officer, Jean-Christophe Mieszala, will on Thursday testify at a state graft probe. McKinsey said the contracts were carried out together with Regiments Capital, a company associated with the Gupta family, some of whom have refused to return to South Africa from Dubai to face graft charges.