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Standard Bank drops Mckinsey amid South Africa scandal
October 30, 2017 / 10:39 AM / 21 days ago

Standard Bank drops Mckinsey amid South Africa scandal

JOHANNESBURG, Oct 30 (Reuters) - South Africa’s Standard Bank has dropped the services of McKinsey, spokesman Ross Linstrom said on Monday, weeks after the global consultancy apologised for errors it made while working with state power utility Eskom last year.

“Standard Bank has elected to terminate McKinsey and Company’s services and has notified it accordingly,” Linstrom said in an emailed response to questions, without giving a reason.

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. (Reporting by TJ Strydom; Writing by Joe Brock; Editing by Louise Heavens)

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