National Treasury has banned Bain & Company from public sector contracts for ten years. The announcement comes nearly 2 months after the UK imposed a 3-12 months ban.
Bruce Whitfield will get remark from Nicole Fritz, Director on the Helen Suzman Foundation.
– National Treasury has banned Bain & Company from authorities contracts for ten years
– The international administration consulting agency is implicated in state seize on the South African Revenue Service
– Bain say they disagree with the ban and are contemplating their choices in response to the choice
National Treasury has has banned Bain & Company from authorities contracts in South Africa for the subsequent decade.
The announcement comes nearly 2 months after the UK authorities imposed an identical 3-12 months ban on the worldwide administration consulting agency.
Bain & Co is implicated in state seize on the South African Revenue Service.
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Treasury boss calls for Bain blacklisting but ‘that’s not good enough’ – Abedian
“Finally some action from the Government! Better late than never” tweeted economist Dr Iraj Abedian in response to the information.
He mentioned the non-public sector now has to comply with swimsuit urgently.
In response, Bain mentioned they disagree with the ban and are contemplating their choices in response to the choice.
The firm maintains that there is no such thing as a proof it colluded with Sars or engaged in any corrupt and fraudulent practices.
We had already reached out to varied stakeholders, together with Treasury and Sars, to have interaction in additional dialogue. Despite this outreach, we got no discover of or alternative to answer the restriction previous to its obvious implementation.
Bain & Company
Bruce Whitfield will get remark from Nicole Fritz, Director of the Helen Suzman Foundation (HSF).
Fritz, a public curiosity lawyer, refers to feedback by Stephen York (managing accomplice of Bain SA) printed on Business Day.
There’s this insistence that we, the South African public, ought to favor an internally commissioned report… and which Bain says exonerates it… over and above the findings of two separate judicial commissions of enquiry within the Nugent Commission and the Zondo Commission.
Nicole Fritz, Director – Helen Suzman Foundation
Bain has by no means made that internally commissioned report obtainable for public scrutiny, so this concept that we must always favor it… appears farcical.
Nicole Fritz, Director – Helen Suzman Foundation
The South African Commissions discovered that there are grounds for additional investigation of Bain & Co, with a view to attainable prosecution.
For York to current the view that there was no such advice is a distortion, Fritz says.
It isn’t inside the mandate of a fee of inquiry essentially to arrange a case that is ripe for prosecution, however they’re clearly very severe concerning the National Prosecuting Authority investing time and sources in investigations with a view that it will then produce prosecutions.
Nicole Fritz, Director – Helen Suzman Foundation
There was a name in August from National Treasury’s Ismail Momoniat for firms within the non-public sector each regionally and overseas to not do enterprise with Bain.
He was talking a day after the UK banned the worldwide administration consulting agency from any new authorities contracts over the subsequent three years.
What I mentioned is that what Bain did to destroy Sars, is akin to treason… as a result of they plotted for about 18 months earlier than Mr [Tom] Moyane was appointed as commissioner to get him in, and so they already had a plan to rid Sars of people that had actually contributed to constructing it…
Ismail Momoniat, Acting Director General – National Treasury
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This article first appeared on CapeTalk : No more govt contracts – Treasury slaps Bain & Co with 10-year ban