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Bain ‘Ashamed’ of Serious Mistakes Made With South Africa Work

  • Global consultancy was barred from government contracts in UK
  • South African treasury head called for work with Bain to cease
Former South African President Jacob Zuma 

Former South African President Jacob Zuma 

Photographer: Waldo Swiegers/Bloomberg

Bain & Co. said it’s “ashamed” of the consultancy’s role in destabilizing South Africa’s tax agency after the country’s most senior treasury official called for companies to stop doing business with the firm.

The public apology by Stephen York, Bain’s managing partner in South Africa, comes days after the UK banned the group from bidding for state contracts because of its links to corruption in the African nation under the presidency of Jacob Zuma.