No more govt contracts - Treasury slaps Bain & Co with 10-year ban

- National Treasury has banned Bain & Company from government contracts for ten years

The announcement comes almost 2 months after the UK government imposed a similar 3-year ban on the global management consulting firm.'UK govt set precedent with Bain ban' but 'SA lacks the moral courage to act'"Finally some action from the Government! Better late than never" tweeted economist Dr Iraj Abedian in response to the news.In response, Bain said they disagree with the ban and are considering their options in response to the decision.

We had already reached out to various stakeholders, including Treasury and Sars, to engage in further dialogue. Despite this outreach, we were given no notice of or opportunity to respond to the restriction prior to its apparent implementation. Nicole Fritz, Director - Helen Suzman Foundation The South African Commissions found that there are grounds for further investigation of Bain & Co, with a view to possible prosecution.It is not within the mandate of a commission of inquiry necessarily to prepare a case that's ripe for prosecution, but they are obviously very serious about the National Prosecuting Authority investing time and resources in investigations with a view that it would then produce prosecutions.

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