The reputation of your country is thoroughly ruined in South Africa.
Paying the money back (as was agreed, and even then my understanding is that not all of it will be repaid, no interest was offered and no criminal charges have been proffered) will never cover for the gutting of essential skills in key state owned enterprises under the cover of a McK “restructuring”.
South Africa is in a perfect storm right now and big consultancies and accounting firms all had their fingers in the cookie jar. They all had a part to play. It makes me sick to think what these consultants might achieve in less democratic states as it’s evident their reach is global and they are legion.
In my university days many bright eyed youth wanted to work for these companies. I hope people are waking up!
Edit: For anyone interested “Zondo Comission McKinsey” or “McKinsey South Africa Guptas” should get you quite far.
Edit2: I’ve just given a brief summary. It’s enlightening to dig into the role of Bain, McKinsey and KPMG especially, their relation to Gupta enterprises (common cause) and their enabling of deals, cutting really good people at key state institutions like SARS (Revenue Service), Eskom (electricity), Transnet (commercial rail). And that’s only what’s in the public domain. The scale of the rot is enormous. Their executives spin corporate speak at our commissions of inquiry (Nugent and Zondo) and do not take any accountability!
Absolutely agree. But to be fair, the problems started with the appointment of useless political cronies as heads of these organisation's, who then used the consultants to help themselves with paybacks, commissions and corrupt deals.
Paying the money back (as was agreed, and even then my understanding is that not all of it will be repaid, no interest was offered and no criminal charges have been proffered) will never cover for the gutting of essential skills in key state owned enterprises under the cover of a McK “restructuring”.
South Africa is in a perfect storm right now and big consultancies and accounting firms all had their fingers in the cookie jar. They all had a part to play. It makes me sick to think what these consultants might achieve in less democratic states as it’s evident their reach is global and they are legion.
In my university days many bright eyed youth wanted to work for these companies. I hope people are waking up!
Edit: For anyone interested “Zondo Comission McKinsey” or “McKinsey South Africa Guptas” should get you quite far.
Edit2: I’ve just given a brief summary. It’s enlightening to dig into the role of Bain, McKinsey and KPMG especially, their relation to Gupta enterprises (common cause) and their enabling of deals, cutting really good people at key state institutions like SARS (Revenue Service), Eskom (electricity), Transnet (commercial rail). And that’s only what’s in the public domain. The scale of the rot is enormous. Their executives spin corporate speak at our commissions of inquiry (Nugent and Zondo) and do not take any accountability!