McKinsey to repay $43m for tainted South African contracts

© Pavel Kapysh

Interesting article on CH Aviation about McKinsey, South African Airways, Transnet and an “ongoing graft investigation”. McKinsey has voluntarily pledged to return $43m it earned in contracts with the companies, but said a thorough investigation had shown that the consultancy had seen no suspicious payments. However, the firm did acknowledge that one of its former partners displayed “problematic behaviour”, which resulted in him being sacked. Of the 10 contracts, nine were with Transnet and one with SAA.

Meanwhile, added the article, the South African government has announced an interim board for embattled SAA “that is light on hands-on airline operational experience”.