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Business Maverick: Treasury slaps Bain with a ten-year ban from state contracts over ‘corrupt and fraudulent practices’

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The Treasury’s decision follows that of Britain, which became the first western country to impose a similar penalty on Bain for its role in State Capture during Jacob Zuma’s two-term presidency. There is already pressure for private sector companies to ...

Bain & Co, the Boston-based global management consulting firm, has been hit with a ten-year ban from tendering for government contracts in South Africa because of its “corrupt and fraudulent practices” at the SA Revenue Service.

The ban on Bain will apply to any other contract that is awarded in the public sector, said the Treasury, which is responsible for overseeing and approving the procurement function of services and goods in all spheres of the government. The government has a large procurement function, with an annual budget of more than R1-trillion that is spent on purchasing goods and services from private sector companies.

Two commissions of inquiries have placed Bain at the centre of capturing, restructuring, and destroying Sars by colluding with the tax collection agency’s former commissioner Tom Moyane and former president Jacob Zuma.

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 /  🏆 3. in PT
 

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You should name&shame a few private companies that still use BainAlerts

When are they blacklisting international thieves like Glencore? What about Steinhof? Ban these 2 thieves from doing any business in SA. Must everything under Ramaphosa be selective?

Great news, now to get the NPA to prosecute and fine them.

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