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Barclays Africa to cut ties with McKinsey amid South Africa scandal
October 30, 2017 / 10:54 AM / 21 days ago

Barclays Africa to cut ties with McKinsey amid South Africa scandal

JOHANNESBURG, Oct 30 (Reuters) - Barclays Africa Group is ending its relationship with McKinsey, the bank said on Monday, two weeks after the global consultancy apologised for errors it made while working with state power utility Eskom last year.

“Barclays Africa Group has taken a decision to not contract any new work with McKinsey & Company and is going through a process of winding down existing work,” the company said in an emailed response to questions.

Privately-held McKinsey, the world’s largest management consultancy, said it regretted working at Eskom alongside a company owned by the Gupta family, wealthy friends of President Jacob Zuma accused of unduly influencing government contracts.

Standard Bank also said on Monday it had stopped working with McKinsey. (Reporting by TJ Strydom; Writing by Joe Brock; Editing by Louise Heavens)

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