The appointment of state capture-accused consultancy firm McKinsey and Co Africa by the G20’s official private sector engagement group has placed it in the crosshairs of the Presidency, with President Cyril Ramaphosa requesting the B20 to reconsider its decision.
The B20 will bring together global business perspectives to influence G20 deliberations and outcomes. The B20 serves as a platform for businesses to connect, collaborate and forge partnerships that aim to drive economic growth globally.
South Africa now chairs the G20 for a year.
Earlier this month, McKinsey agreed to pay $122m (R2.2bn) to resolve criminal accusations tied to state capture, including the bribing of Eskom and Transnet in exchange for lucrative tenders. The agreement by the consultancy firm resolved a US investigation and charges brought against it by South Africa's National Prosecuting Authority.
“The Presidency has noted with concern the recent appointments of McKinsey as a supporting partner to the B20, the business engagement group that meets on the sidelines of the G20 and co-ordinates the participation of business in the G20,” Ramaphosa’s office said.
While the Presidency or government has no control over the B20 processes, it does not endorse the appointment of McKinsey in this regard.
— The Presidency
“While the Presidency or government has no control over the B20 processes, it does not endorse the appointment of McKinsey in this regard.”
“The president wouldn't meet business over this issue alone. However, the expectation is business will on their own resolve this issue by reconsidering the appointment” Ramaphosa's spokesperson Vincent Magwenya told Business Day.
When approached for comment, the B20’s sherpa Cas Coovadia declined to comment, saying it would only do so after engaging the president on the matter.
“The B20 South African opening event will take place on February 24-25 in Cape Town, with task forces deliberating on policy recommendations and side events hosted by global network partners throughout the year, and culminating at the B20 summit in November before the G20 summit in Johannesburg,” the B20 said.
BusinessLIVE
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.