Zondo spotlight shifting back onto big global firms

Yesterday’s statement from the Zondo Commission was concise, but its impact could be seismic. It confirmed that for the first time since SA’s official investigation into State Capture began in August 2018, international firms who participated in the illegal plunder of SA’s national resources are about to be named and shamed.

The statement reads: “Lord Peter Hain will testify on Monday 18 November. Lord Hain has volunteered to give evidence before the Commission.” Hain, the SA-raised anti-apartheid icon, played a huge part in exposing the malaise to the international community. He’s set to exert fresh pressure onto KPMG, McKinsey, HSBC, SAP, Bain and Hogan Lovells.

The British peer told me by WhatsApp yesterday: “Although I cannot go into details before the hearing, I will focus upon international complicity in State Capture and corruption in South Africa – including by states, banks and corporates – and making recommendations to stop this.”

Not before time. Go get ’em Peter.