'Zuma-Gupta looting impossible without Bain, KMPG, McKinsey, SAP, HSBC...'
The UK government must freeze all contracts it has with consulting firm Bain & Company, said former British MP and anti-apartheid activist Lord Peter Hain.
Bain was “utterly shameless in advising former president Jacob Zuma and his placeman, Tom Moyane, on how to systematically disable South Africa’s once internationally respected tax agency,” wrote Hain in Business Day on Monday.
Bain must be made to pay back the money while whistle-blower Athol Williams should be lauded and protected, says Hain, who finds it “unacceptable that Bain remains licensed to operate commercially in the UK, US or anywhere else in the world”.
Furthermore, the “Zuma-Gupta decade of prodigious looting” could not have occurred without KMPG, McKinsey, SAP and the banks HSBC, Standard Chartered and Baroda, says Hain.
RELATED: Peter Hain: Bain just one of many corporates that helped fleece SA – Business Day
The Money Show’s Bruce Whitfield interviewed Hain (scroll up to listen).
I do expect action… It takes two to tango… It requires businesses to make this happen…Lord Peter Hain
These are global corporates… Their reputation is very important to them… They’ve got to be made accountable… There should be concerted pressure on the likes of Bain… in every country in the world…Lord Peter Hain
They [Bain & Co] got R2 billion from state-owned enterprises… are they going to pay it back? … Bain should’ve been suspended… Until these global corporates feel the heat… then this will happen again.Lord Peter Hain
This article first appeared on CapeTalk : 'Zuma-Gupta looting impossible without Bain, KMPG, McKinsey, SAP, HSBC...'
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