WATCH LIVE | State capture commission to hear evidence from McKinsey senior partner

11 December 2020 - 09:45 By TimesLIVE

The state capture commission of inquiry will on Friday hear evidence from management consulting company McKinsey's senior partner Alexander Weiss.

A senior partner at the company could not guarantee that McKinsey would also pay back interest accrued on the fees it will repay for contracts it had with state-owned entities Transnet and SAA.

On Wednesday, McKinsey announced it had voluntarily committed to return all of the fees it had earned on all nine contracts where Gupta-linked company Regiments worked with McKinsey at Transnet and on one contract where Regiments worked with McKinsey at SAA.

The amount to be repaid is estimated to be about R650m, without interest.

State capture commission evidence leader Matthew Chaskalson SC asked McKinsey's chief risk officer, Jean-Christophe Mieszala, on Thursday whether the company would also repay the interest on the fees it will return, as it did with Eskom in 2018.