Bain and Company

2022 - 8 - 3

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Image courtesy of "The Guardian"

Bain & Co barred from UK government contracts over 'grave ... (The Guardian)

Global management consultancy's three-year ban follows pressure by ex- Labour minister Peter Hain.

“Bain have apologised for the mistakes our South African office made in its work with the South African Revenue Service (Sars) and we repaid all fees from the work, with interest, in 2018. We have offered our full cooperation to the relevant authorities and will continue to do so.” In January, the Guardian revealed that Lord Hain had called on Boris Johnson’s government to penalise Bain & Co, which is headquartered in Boston, Massachusetts, over its “despicable” role in South Africa’s biggest post-apartheid corruption scandal. The Cabinet Office will advise all government departments that Bain and its affiliates should be excluded from tendering for contracts for the three-year period. In the meantime, we will continue to work with the Cabinet Office to ensure that we do what is required to restore our standing with the UK government. He has also called on the US government to immediately suspend all public sector contracts with Bain and bar the company from entering any new contracts.

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Image courtesy of "Independent Online"

Bain & Company suspended from public sector work in United ... (Independent Online)

Bain has in justification said in the past 10 years, it had earned R196 million from government contracts in South Africa.

"It is outrageous about Athol, whom I took with me to see Cabinet Minister Jacob Rees-Mogg, that South Africa has the best constitution in the world but it will not protect this brave whistleblower. He should have been held up and honoured as a symbol of what business should be,' he said. Reports out of the UK this week were that UK Cabinet Office minister Jacob Rees-Mogg told Bain in a letter that the company’s integrity was now "questionable" and that he was not convinced that it had taken its role in the scandal sufficiently seriously.

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Image courtesy of "Eyewitness News"

'Corporates have to feel the pain', says Lord Hain on his Bain win (Eyewitness News)

Bongani Bingwa spoke exclusively to British politician and anti-apartheid fighter, Lord Peter Hain on the UK government's suspension of Bain & Company from ...

I want to see the US, UK, Dubai, China UAE and Indian government working together to stop this, otherwise there will be more state capture.Lord Peter Hain, British politician and anti-apartheid fighter It's been a hard grind, but I feel very strongly that these international corporates have to realise if they do something wrong, then other governments of the world should have nothing do with them.Lord Peter Hain, British politician and anti-apartheid fighter It becomes very difficult to trace it.Lord Peter Hain, British politician and anti-apartheid fighter This has to be an intergovernmental priority. Rather to my surprise, a UK cabinet minister agreed with the evidence I submitted. Bongani Bingwa spoke exclusively to British politician and anti-apartheid fighter, Lord Peter Hain on the UK government's suspension of Bain & Company from public contracts.

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Image courtesy of "SABC News"

Hain pleased that UK government has agreed to suspend Bain and ... (SABC News)

Anti-apartheid activist, Lord Peter Hain says he's pleased that the UK government has agreed to suspend Bain and company from public contractors for three ...

The Zondo commission said they referred them for prosecution because of the way they dismembered SARS yet they continued to practice in London and Washington DC and elsewhere in the world as if nothing had happened in SA. So that was my purpose and I’m pleased that the British government has exceeded my request.” He says, “I felt strongly that companies like Bain and Co. and there are others like KPMG and Makenzie who have been involved in the whole corruption state capture under Zuma. I thought they ought to face consequence abroad as well and they should receive the results of their unlawful behaviour in Bain’s case. Anti-apartheid activist, Lord Peter Hain says he’s pleased that the UK government has agreed to suspend Bain and company from public contractors for three years over the role it played in facilitating the capture of the South African Revenue Service (SARS).

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Image courtesy of "Daily Maverick"

Bain banned from receiving UK government contracts for three years ... (Daily Maverick)

British cabinet minister Jacob Rees-Mogg acts against Bain on the urging of anti-apartheid campaigner Peter Hain.

I now call on the SA government, particularly National Treasury, and companies like Sasol (who have hired Bain) to do the same,” Williams said in a statement. Referring to Bain’s earlier acknowledgement of some failings in its South African office and its repayment of some fees, Hain said: “Bain would have us believe that what happened in South Africa was the work of one rotten apple. The UK government has acted to protect its public sector from Bain’s destructive behaviour and also acted in solidarity with the SA people. “I have already pressed the US ambassador to the UK.” Rees-Mogg would advise all government departments to apply the same three-year ban. When will the SA government do the same for our people?

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Image courtesy of "BizNews"

UK's Bain ban an 'embarrassment to our government' - Athol Williams (BizNews)

Whistleblower Athol Williams says the UK government's three-year ban imposed on Bain should be an embarrassment to the SA government.

It raises the urgency of the Zondo Commission’s recommendation that all Bain’s public sector contracts be investigated with a view to prosecution. I now call on the SA government, particularly National Treasury, and companies like Sasol (who have hired Bain) to do the same. In the meantime, we will continue to work with the Cabinet Office to ensure that we do what is required to restore our standing with the UK government. We have offered our full cooperation to the relevant authorities and will continue to do so.” Bain have apologised for the mistakes our South African office made in its work with the South African Revenue Service (SARS) and we repaid all fees from the work, with interest, in 2018. Whistleblower Athol Williams believes the UK government’s three-year ban imposed on controversial global consultancy firm Bain and Company should be an embarrassment to the South African government and its inaction.

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Image courtesy of "Moneyweb.co.za"

Bain gets three-year ban from UK government over 'grave ... (Moneyweb.co.za)

Bain & Co has been banned for three years from tendering for UK government contracts, over its role in state capture in South Africa.

In the meantime, we will continue to work with the Cabinet Office to ensure that we do what is required to restore our standing with the UK government. Neither Commission of Inquiry in South Africa has recommended any charges to be filed. Bain [has] apologised for the mistakes our South African office made in its work with the South African Revenue Service (Sars) and we repaid all fees from the work, with interest, in 2018. We will be responding to express our concern about the process and its outcome, where recommendations from the Cabinet Office were apparently overruled, and to address inaccuracies in the Minister’s letter. Bain’s former managing partner Vittorio Massone and Moyane planned to restructure Sars without Bain even having stepped foot into the tax agency. It was a disaster.

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Image courtesy of "Bloomberg"

UK Government Ban on Bain Sets Key Precedent, Former MP Says (Bloomberg)

A UK government ban on Bain & Co. from competing for state contracts sets an important precedent for the handling of companies found to have assisted with ...

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Image courtesy of "News24"

EXCLUSIVE | 'Akin to treason' - Treasury boss wants SA firms to stop ... (News24)

National Treasury's acting director-general, Ismail Momoniat, has called on companies in the private sector in South Africa and internationally not to do ...

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Image courtesy of "702"

'SA govt should follow suit and cut ties with Bain & Co' (702)

Refilwe Moloto speaks to Bain & Co whistleblower, Atholl Williams after the consultancy was banned from doing business with the UK government due to its ...

Read More Read More Read More Read More It isn't about just punishing Bain from government work; this isn't the issue. I think this is quite a slap in our face in the sense that something bad has happened on our patch, and, yet, someone else is going out of their way to punish the perpetrators when we let them off scot-free.Atholl Williams, whistleblower - Bain & Co

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Image courtesy of "BBC News"

Bain consultancy banned from government work over 'misconduct' (BBC News)

The management consultancy cannot work for the UK government for three years over 'misconduct' in South Africa.

"Bain used its expertise, not to enhance the functioning of a world-renowned tax authority as Sars was acknowledged, but to disable its ability to collect tax and pursue tax evaders, all in the service of their corrupt paymasters." In a speech to the House of Lords last month, Lord Hain, under parliamentary privilege, said Bain had "brazenly assisted" Mr Zuma to organise his decade of "shameless looting and corruption". Lord Hain said the firm had earned fees estimated at £100m from state institutions during this period. Bain said it had "apologised for the mistakes" its South African office made in its work with Sars and that it had repaid all fees from the work, with interest, in 2018. Global corporates like Bain, he said, had to "feel the pain for the consequences" of their behaviour in South Africa's "state capture and corruption scandal" under former President Zuma. "This decision has been taken in light of Bain's responsibility as a global brand for its South Africa division and the company's failure to clarify the facts and circumstances of its involvement," the spokesperson added. A spokesperson from the Cabinet Office said that after reviewing Bain's role and taking account of the "evidence and conclusions of the South African Government Commission", the Minister for Government Efficiency, Jacob Rees-Mogg, considered Bain to be "guilty of grave professional misconduct".

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Image courtesy of "Financial Times"

Bain & Co considers legal action against UK government over state ... (Financial Times)

Management consultant Bain & Co is weighing up taking legal action against the UK government after being hit with a three-year ban on bidding for state ...

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