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South Africa bans consultancy Bain from state contracts for 10 years

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South Africa’s National Treasury said on Thursday it has banned consultancy Bain & Company from doing business with the state for 10 years for its role in alleged corrupt practices in the country.

JOHANNESBURG, Sept 29 - South Africa’s National Treasury said on Thursday it has banned consultancy Bain & Company from doing business with the state for 10 years for its role in alleged corrupt practices in the country.

“The restriction will apply to any other contract for services awarded to Bain & Co in the public sector.”In an open letter addressed to the South African community in August, Bain South Africa Managing Partner Stephen York said the company regretted playing any role in the damage to the tax agency.

 

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