Bain & Company withdraws membership from BLSA

Johannesburg – Boston-based firm Bain & Company on Tuesday announced that it is parting ways with Business Leadership South Africa (BLSA).

According to a statement from Bain, it said that the company’s membership of the business lobby group should not “distract from the important work BLSA does on behalf of the business community for the good of South Africa.”

BLSA said that it accepts Bain’s withdrawal from the lobby group.

Earlier this week, Sunday World reported that the National Treasury is in the dark about the number of contracts the controversial Bain & Company has with state entities, following a recommendation by the chairperson of the State Capture Commission, Judge Raymond Zondo, that all the company’s state contracts be investigated.

Following evidence before Zondo, the acting chief justice last week recommended that all Bain’s contracts with “state departments and organs of state be re-examined to see whether they complied with the relevant statutory and constitutional provisions”.

Bain was found to have played a key role in weakening the South African Revenue Service (SARS) with the assistance of the entity’s former boss Tom Moyane.

Bain in 2018 paid SARS back R217-million for its botched restructuring of SARS.

Zondo called on law-enforcement agencies to conduct such investigations as “may be necessary with a view to enabling the National Prosecuting Authority to decide whether to initiate prosecutions in connection with the award of the Bain contracts”.

In a written response, the National Treasury said: “There is no record of existing current contracts between government and Bain & Co.

For entities, National Treasury is not able to see contracts for entities due to various distinct supply chain management systems.”

Also read: Treasury in the dark about Bain contracts

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