
McKinsey & Co is partnering with a South African business lobbying group to organize an event that aims to connect global policymakers, civil society organizations, and business leaders, which will be part of the upcoming Group of 20 meetings next year.
This partnership between the consulting firm and Business Unity South Africa comes on the heels of McKinsey’s recent settlement of over $122 million to resolve criminal charges connected to a corruption scandal. This scandal involved former executives of the state-owned ports and rail operator Transnet during a time noted for extensive government corruption, commonly referred to as state capture.
The settlement settled both a U.S. investigation and charges brought against McKinsey by South Africa’s National Prosecuting Authority.
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This month, South Africa assumed the presidency of the G-20 and its associated private-sector group, Business 20. As the continent’s most industrialized nation, South Africa seeks to underscore the developmental objectives of the region and the broader Global South.
Business Unity South Africa will serve as the representative of the nation’s private sector within B20, actively working alongside McKinsey as they prepare for the 2025 summit.
According to Cas Coovadia, the B20 South Africa sherpa and the outgoing head of Busa, the business coalition finds it “appropriate” to collaborate with McKinsey following the restitution agreement and the firm’s pledge to collaborate with authorities to address the fallout from state capture.
McKinsey is acting as a “development and knowledge partner,” offering support to the organization on a pro-bono basis, as noted by Kerry Naidoo, Director of Communications for McKinsey Africa.
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