“The effective date of restriction is September 5 2022 until September 4 2032 for engaging in corrupt and fraudulent practices related to a SA Revenue Service contract,” said the Treasury.
The ban comes after the Zondo commission of inquiry into state capture and the Nugent commission found Bain & Co had played a part in dismantling Sars. The Treasury said the restriction had been published on its website and database for restricted suppliers. The UK has also banned Bain & Co from government contracts for three years because of its actions in SA.
In August, Bain SA's managing partner Stephen York issued a public apology, saying: “Bain made serious mistakes in the procurement and execution of our work at Sars, and we kept working even as it became clear that the Sars leadership had a different agenda. Our work was used by others to further their agenda of state capture at Sars ... We regret playing any role in the damage to this critical institution.
Source: News Formal (newsformal.com)
Watch the private sector betraying the decision & throwing Bain & Co lifelines.
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