.BainAlerts has been banned for three years from tendering for UK government contracts, over its role in state capture in South Africa. Moneyweb CompanyNews
Bain & Co has been banned for three years from tendering for UK government contracts, over its role in state capture in South Africa. The Financial Times reports that UK Cabinet Office Minister Jacob Rees-Mogg has written to Bain UK Managing Partner James Hadley, informing him of the ban, which will be applied retrospectively from 4 January 2022.
An investigation by retired Judge Robert Nugent found that operational managers were thrown into uncertainty about their jobs. Some 200 employees were eased out and forced to re-apply for posts in the new organisational structure. Bain’s former managing partner Vittorio Massone and Moyane planned to restructure Sars without Bain even having stepped foot into the tax agency. Massone, then Bain’s man in Africa, made one short appearance at the Nugent Commission, never to be seen again in SA.
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