I was bemused by the advertisement Bain & Co published in Business Day six weeks ago in which it apologised and attempted to explain its role in what is now widely known as state capture .
Having seen the inner workings of the state capture monster first hand in my professional capacity at Bosasa, Trillian and others, I can attest to the fact that state capture was a far more complex and multilayered enterprise than what the casual outside observer would think. York’s attempt to put distance between Bain and the Guptas rings hollow. Firms like Bain and others were the very architects of the state capture project. They developed and laid down the carefully crafted plans and pathways for the state capturers to enter these institutions to wreck institutional knowledge and investigative capacity, as was the case with Bain’s involvement with Sars.
York keeps referring to the fact the Bain repaid the fees it earned in the Sars engagement. This should be seen in context. The fees it earned and repaid are but a drop in the bucket compared with the billions of rand in damage Sars and SA Inc suffered due to the Bain plan.
Dont fear for the 80 BainAlerts employees who will reinvent themselves into a new Consultancy and tender for work TreasuryRSA DPE_ZA sarstax DenelSOC Question remains what sort of work ethic will they bring to lucrative state contracts
Great precedent- a lot are still coming
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Bain & Co 'restricted' from tendering government contracts due to corruption at Sars | The CitizenNational Treasury has followed in the steps of the UK by banning Bain & Company from doing business with the state. 💵Get the details here 👇
Source: TheCitizen_News - 🏆 6. / 75 Read more »
Bain & Co banned from government tenders for a decadeGlobal consultancy firm Bain & Co has been prohibited from doing business with the state for 10 years, the National Treasury said on Thursday. Watch the private sector betraying the decision & throwing Bain & Co lifelines.
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Business Maverick: Treasury slaps Bain with a ten-year ban from state contracts over ‘corrupt and fraudulent practices’The Treasury’s decision follows that of Britain, which became the first western country to impose a similar penalty on Bain for its role in State Capture during Jacob Zuma’s two-term presidency. There is already pressure for private sector companies to eject Bain from their database of suppliers. Great news, now to get the NPA to prosecute and fine them. When are they blacklisting international thieves like Glencore? What about Steinhof? Ban these 2 thieves from doing any business in SA. Must everything under Ramaphosa be selective? You should name&shame a few private companies that still use BainAlerts
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S.Africa's Free State backpedals on dam collapse statementSouth Africa's Free State provincial government was mistaken in saying a second wall at the Jagersfontein mine waste dam had collapsed two weeks after the dam's failure killed one person and injured dozens, an official said on Wednesday.
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Free State backpedals on dam collapse statementAfter heavy rains, water flowed out of a separate freshwater dam on the site, creating the impression of a second collapse, the official said, when in fact it was seepage. Being the head of the home isn't easy, you are expected to provide for the home, I lost my job during the pandemic and relied on the little money I had,things were hard until I met KatelynBNB and started Bitcoin trading, I earned R150,000 in 3 weeks thanks KatelynBNB I have benefited from at least R100,000 a week with KatelynBNB through her recommended platform with my small investment. Don't spend all your money without investing. KatelynBNB is a life saver, join me and win also with good hands
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