THE CITIZEN / 13 APRIL 2021 - 05.05 / BRIAN SOKUTU - SENIOT PRINT JOURNALST
The McKinsey contract saw McKinsey pocketing R1.7 billion for what was envisaged to be a turnaround strategy to boost the financially ailing Eskom.
Contractual agreements between international consulting company McKinsey and Eskom yesterday dominated proceedings at the Commission of Inquiry into State Capture, with the power utility’s former chief financial officer, Anoj Singh, describing McKinsey’s termination as legal.
The McKinsey contract, which began in December 2015 and was cancelled in June 2016, saw McKinsey, Gupta-linked Regiments Capital and Trillian Capital Partners, pocketing R1.7 billion for what was envisaged to be a turnaround strategy to boost the financially ailing Eskom. McKinsey, which offered to pay back R600 million in consulting fees to Eskom, found itself entangled with a company with state capture project...
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