South African lawyers demand $130m refund from firms
17 Jan 2018

South African prosecutors have called for two consultancy firms to repay $130 million (£94.4 million) they earned from the state power company, Eskom.

McKinsey, and a local firm called Trillian, were paid the sum in 2016 for giving advice.

Trillian was controlled by the Gupta family, whose closeness to President Jacob Zuma led to corruption charges.

Both the Guptas and Mr Zuma, who has said he will set up an inquiry into the family, deny any wrongdoing.

Officials are investigating whether McKinsey allowed money from Eskom to go to Trillian as a way of winning the consultancy contract.

McKinsey, which has lost clients over the scandal, said it stopped working with Trillian once it realised its connection to the Guptas.

The global firm has also said it is happy to return the money it earned in the deal.

– BBC

You can claim CPD minutes for reading this article, by signing up to our CPD Wallet

FREE CPD Wallet

You must be logged in to post a comment.

This site uses Akismet to reduce spam. Learn how your comment data is processed.