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In that case, McKinsey reimbursed all the fees it had earned at Eskom with interest, when it found procedural irregularities in Eskom’s 2016 restructuring program.
“We made the decision in principle to return our fees. We have to work with state entities but also with the authorities on what it would be and how it will be done, “said Mieszala.
Chaskalson said that although McKinsey had decided to reimburse the fees it earned from the Transnet and SAA contracts, it did not appear to recognize the full nature of the misstatement of McKinsey SA partner Vikar Sagar.
Mieszala said McKinsey’s own investigation found no evidence that McKinsey made corrupt payments to officials at Transnet or Eskom. However, their investigations identified areas of concern related to professional standards or violations of their own internal policies by Sagar.
These were related to the fact that Sagar had helped Siyabonga Gama, CEO of Transnet, with his MBA in late 2015 and early 2016.
A second area of concern was a letter Sagar wrote wrongly referring to Trillian as a McKinsey subcontractor.
“This letter was confusing.”
This prompted McKinsey to take disciplinary action against Sagar and terminate his employment relationship with the company in October 2017.
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