Ex-partner hired to fix Bain South Africa turns against firm
INTERNATIONAL – A former partner at Bain & Co.’s South African business said he will testify to a commission investigating graft in the country about the firm’s involvement in allegedly trying to facilitate corrupt dealings.
Athol Williams plans to detail his concerns that Bain may have tried to clear a path for government officials and politically connected individuals to plunder state resources, known locally as state capture, he said in an email on Thursday. The company’s involvement in state capture possibly went beyond that of their role in advising on the restructuring of the country’s tax authority, Williams said.
Williams resigned within six months of being appointed to oversee the consultancy’s remedial action in the country after Bain said its work for the South African Revenue Service was a “serious failure.” He suspected the company was trying to cover up the full extent of its role in facilitating corruption because it refused to provide him with an investigative report and notes taken during interviews with employees, he said.
Source: iol.co.za
