Because of its involvement in corruption and fraud in connection with its contract with SARS, National Treasury has barred consulting firm Bain & Co. from bidding on public sector contracts for a period of ten years.
It will last until September 2032.
According to News24 Treasury stated that it was “in the process of barring Bain & Co, South African Executives in phases & in cooperation with SARS.
The decision to bar the corporation comes weeks after the UK government decided to block it for three years from bidding on public contracts.
On Thursday, Bain stated that it disapproved of the ban and was weighing its options.
According to the group, there is no proof that it conspired with SARS or engaged in any shady or dishonest activities.
“The new Bain South Africa leadership is committed to preventing a repeat of the previous events. We will keep contacting important stakeholders to have an open and honest discussion about the best course of action, in keeping with the public commitment we made in our recent appeal for constructive dialogue.”
Despite admitting to making “serious mistakes” while working for SARS, Bain has consistently refuted claims that its employees “knowingly” engaged in state capture or attempted to “damage SARS”.
