Criminal minds: Report says McKinsey stole from Eskom – FT

EDINBURGH — Global consultancy McKinsey has been depicted in a leading international business newspaper as a criminal organisation in South Africa. The Financial Times tells its readers that South African lawmakers accuse McKinsey employees of devious moves to suck as much money as possible out of state entity Eskom. McKinsey has repeatedly underplayed its role in the state capture scandal, which rocked South Africa and led to ratings downgrades. – Jackie Cameron

By Thulasizwe Sithole

South African lawmakers have accused McKinsey of possible criminal wrongdoing in a report that condemns the consultant's work for the state power monopoly over its links to a political corruption scandal, reports the Financial Times.

The global management consultancy acted as a "de facto legitimising vehicle" for Trillian, a company linked to the Gupta business family, to siphon money from the Eskom utility, according to the report published by a South African parliamentary committee on Wednesday, it tells its global audience.

"McKinsey's potential use of Trillian to extract rents from Eskom may constitute criminal conduct, the report added. McKinsey has already apologised for mistakes and repaid fees of about R1bn ($72m) over the scandal affecting its biggest ever African contract. But the report is likely to damage its image further in South Africa, where it has lost clients over the fallout."

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