Political analyst Dr Dale McKinley says that Bain & Company’s withdrawal from Business Leadership South Africa (BLSA) is an admission of a degree of guilt.
The controversial US-based consultancy firm has been linked to allegations of corruption related to work it did for South African Revenue Services (SARS), pocketing millions of rands, in what was subsequently declared as illegal in the recently released state capture report.
McKinley says that the company wants to protect some degree of its reputation.
“It needs to be investigated much further. There’s a case, the Zondo Commission report clearly sets up the case against Bain. It indicates that there’s every indication that it was a strategic consultancy that basically facilitated the capture, not just helped along just a little bit.”
“That is what needs to happen. We need to have a proper investigation and we need to have people held responsible. This is what the public wants, Bain is no exception,” he adds.
Earlier this month, the State Capture Commission made a number of recommendations that speak to state capture that took place at SARS.
The report called for law enforcement agencies to conduct necessary investigations to assist the National Prosecuting Authority (NPA) in determining whether to pursue prosecutions in relation to the award of Bain & Co contracts.
Below is the full interview: