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NPA charges McKinsey SA with fraud over Transnet locomotive debacle | Fin24

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The Nationwide Prosecuting Authority (NPA) has indicted McKinsey South Africa on fees of fraud, theft and corruption associated to state seize at Transnet. 

The NPA’s Investigating Directorate introduced on Friday that it had charged former McKinsey director Vikas Sagar and present worker Goitseone Mangope.

Mangope, who has been charged in his consultant capability as an worker of the corporate, made a quick look within the Palm Ridge Justice of the Peace’s Courtroom on Friday morning.  

Sagar, who has been charged each as an organization consultant and in his private capability, didn’t seem in court docket as he isn’t within the nation. 

NPA spokesperson Sindisiwe Seboka, who described the indictment as a “victory”, mentioned:

“They’re anticipated to [again] seem on 14 October at this identical court docket the place they are going to be joined by their different co-accused.”

Mangope and Sagar be a part of a number of different prime executives from the federal government and personal sector who’ve already been charged within the case. 

These embody Transnet’s former CEOs Brian Molefe and Siyabonga Gama, the corporate’s former finance chiefs Anoj Singh and Garry Pita, and its former group treasurer, Phetolo Ramosebudi. 

Additionally within the dock are Regiments executives Eric Wooden, Niven Pillay and Litha Nyhonhya, Trillian Asset Administration director Daniel Roy, and Albatime’s Kuben Moodley.

The accused have been arraigned on fees stemming from a controversial tender awarded to a consortium led by McKinsey SA a decade in the past to advise Transnet on shopping for 1 064 locomotives to improve its ageing fleet. The tender ended up ballooning to round R54 billion. 

McKinsey has paid again the consulting charges it earned at Transnet, in addition to at Eskom and SAA. 

“Regiments Capital was irregularly onboarded and ended up benefitting from the irregular appointment by Transnet in respect of the contract. The contract worth and scope for the companies required was later escalated to greater than R305 million,” mentioned the NPA. 

Wooden, who utilized for leisure of his bail circumstances earlier within the month to journey to the UK, is anticipated to return to South Africa on Friday. 

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