KPMG shunned by some clients after Gupta ties emerge
Sygnia Asset Management fired KPMG after the revelation of its controversial ties to the Gupta family.
Iraj Abedian, CEO of Pan-African Investment and Research Services recently resigned from the board of Munich Re Africa because it would not fire KPMG.
Speaking to CapeTalk's Kieno Kammies, Abedian says he doesn't believe that after what is happening in the country at the moment in terms of the Gupta's looting the state, we can afford to dilly-dally when it comes to making decisions. He says companies like KPMG must be shunned.
We had a lot of intense fact based discussions [with Munich Re] and they were dilly-dallying and I said, look I am out...Iraj Abidian, Executive Chairman at Pan-African Capital Holdings
CEO at Business Leadership South Africa (BLSA), Bonang Mohale, commended Abedian for making an 'ethical decision'.
That's what we mean by ethical leadership and taking decisions that will personally hurt you because you believe in principles.Bonang Mohale, CEO of Business Leadership South Africa
Mohale confirmed that SAP and McKinsey, who are also implicated in corruption controversy with the Guptas, are part of BLSA. He says he has personally met with the CEOs of these companies and told them to come clean.
As BLSA we have taken an anti-corruption oath .. we will have zero tolerance for corruption in our own midst...Bonang Mohale, CEO of Business Leadership South Africa
Mohale says a number of companies that are part of BLSA have cut ties with SAP, Mckinsey and KPMG.
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