Black Business Council Welcomes Firm Stance by Presidency on Bain and McKinsey Corruption

Johannesburg, December, 17, 2024: By Kganki Matabane, CEO of the BBC

The Black Business Council (BBC) welcomes the firm stance taken by the Presidency on Bain & Company and McKinsey & Company’s corruption by calling big business to stop doing business with these corrupt companies. The action by the Presidency sets an excellent tone that corruption must never be tolerated, no matter who commits it. The Presidency should go further and refuse to entertain and consider any report from B20, NECOM, B4SA that were drafted by these corrupt companies.

The BBC will refer to Business Unity South Africa, the so called B4SA of Martin Kingston and Energy Council of South Africa as corrupt organisations until and unless they publicly disassociate themselves from using Bain and Company, McKinsey & Company and all the other companies that were fingered in state capture in South Africa. Shielding, promoting and doing business with corrupt companies means you are also corrupt. These companies nearly collapsed our beloved country.

Equally, the BBC reiterates its call for state-owned companies like Eskom, the IDC, Central Energy Fund and other clean private sector companies to withdraw their membership from Energy Council of South Africa to demonstrate their stance against corruption. The BBC stands firm against any form of corruption and will work with all law-abiding companies and citizens to uproot and expose it, without any fear or favour.

The BBC urges the Presidency to convene an urgent special meeting with the leadership of the two (2) Business Apex organisations to resolve and agree on the road ahead for B20 for the benefit of all S.A Inc. The country should work together in the interest of all its citizens and the African continent at large, in hosting the B20/G20 summit.

About the Black Business Council

The Black Business Council (BBC) is the over-arching confederation that represents black professional, business associations and chambers. The primary purpose of the BBC is to lobby government on policy related matters and to play an advocacy role where policies are in place in order to accelerate the participation of black business in the mainstream economy.

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