Former partner at Bain SA, Athol Williams, has told the State Capture Commission in Johannesburg that Bain paid R3.6 million a year to two performing artists for strategic advice on procurement and introduction to political leaders.
Bain SA is alleged to have assisted in bringing revenue service, SARS, to its knees with its restructuring advice during Tom Moyane’s tenure.
The Commission of Inquiry into State Capture hears SARS-related testimony:
According to Williams, Ambro-Bright, a company that was co-owned by film producer Duma Ka-Ndlovu and musician Mandla KaNozulu, received the highest fee, which was usually reserved for former CEOs and ex-public officials, to give advice.
Williams says Bain was also expected to pay a success fee as part of the contract. “The advisers are usually former CEOs and former public sector officials or Bain Partners like me. Even with that highly skilled experienced profile of advisers, being paid R3.6 million a year is not what they usually pay for such advisers. So already, we are talking getting advice which you normally get from experienced CEO and you getting it from artists and you are paying artists far more than what you pay experienced CEOs.”
Atholl Williams gives testimony at the Commission of Inquiry into State Capture:
