McKinsey & Company Africa go pay $122 million to settle bribery case wey link to South Africa goment officials

McKinsey and Company Africa go pay ova $122 million to resolve one investigation by di Justice Department wia e show say di company bin involve for one bribery scheme for South Africa.

Di company enta gbege sake of di bribe to goment officials for South Africa between 2012 and 2016 wia dem benefit from di corrupt scheme.

According to di office of public affairs for di US Department of Justice, dem also uncover di guilty plea of one of di senior partners wey participate for di bribery scheme.

Dem charge McKinsey Africa wit a one count charge of conspiracy to violate di anti-bribery provisions of di Foreign Corrupt Practices Act (FCPA).

In relation to di offence, one of di senior partner of di company bin plead guilty to di violation of di corrupt practice.

"McKinsey and Company Africa (Pty) Ltd (McKinsey Africa), a company wey dey operate for South Africa as a wholly owned and controlled subsidiary of international consulting firm McKinsey & Company Inc. (McKinsey), go pay ova $122 million to resolve one investigation by the Justice Department," US department of Justice tok.

"Vikas Sagar, a former senior partner of McKinsey wey work for McKinsey Africa South Africa office, previously plead guilty to one count of conspiracy to violate di FCPA."

How di bribery scheme take waka

Court document show say McKinsey Africa through one of dia senior partner bin agree to pay bribes to officials wey go benefit di company.

To di benefit of McKinsey, dem agree to pay bribes to den-officials for Transnet SOC Ltd. (Transnet), South Africa state-owned and state-controlled custodian of ports, rails, and pipelines.

Di bribe also include officials for Eskom Holdings SOC Ltd. (Eskom), South Africa state-owned and state-controlled energy company, according to di department of Justice.

According to di Justice Department, McKinsey Africa bin obtain confidential and non-public information from Transnet and Eskom about di di award of lucrative consulting contracts and dem submit proposals for multimillion-dollar consulting engagements between 2012 and 2016.

Di South African consulting firms wey McKinsey Africa bin partner wit den pay a portion of dia fees as bribes to officials at Transnet and Eskom.

Sake of dis bribery scheme, McKinsey and McKinsey Africa earn profits of around $85,000,000, according to di department of Justice.

"McKinsey Africa bribe South African officials in order to obtain lucrative consulting business wey generate tens of millions of dollars in profits," Principal Deputy Assistant Attorney General Nicole M. Argentieri tok.

'McKinsey Africa go pay ova $122 million as penalty

Di head of di Justice Department Criminal Division say becos of di bribery scheme, McKinsey Africa bin agree to pay money as penalty for di criminal offence wey dem commit.

"As a consequence, McKinsey Africa don agree to pay a criminal penalty of more dan $122 million."

"McKinsey Africa bin participate in years long scheme to bribe goment officials for South Africa and unlawfully obtain series of highly lucrative consulting engagements wey give McKinsey Africa and parent entity McKinsey & Company about $85 million profits," di U.S. Attorney Damian Williams for di Southern District of New York add.

US attorney bin clear say McKinsey allow dia partner to repeatedly get consulting contracts through corruption and bribes for two different state-owned entities for South Africa but dem go fight against any American company wey engage in corrupt practice.

Di $122 million payment na settlement by McKinsey and FBI say dem go continue to hold companies accountable for any corrupt activities.

How McKinsey react to di allegations

As reaction to di charges, McKinsey Africa bin agree to pay criminal penalty of $122,850,000.

Also, di company agree say dem go corporate wit di Criminal Division Fraud Section and di U.S. Attorney Office for New York in any ongoing or future criminal investigation wey go arise.

According to mail reaction wey BBC Pidgin send to McKinsey South Africa, dem say dem welcome di resolution of dis 'regretful situation'.

"We fire Mr. Sagar soon afta we learn of dis issues, return our fees wit interest, cooperate wit di authorities, and make significant upgrades to our risk, legal, and compliance controls to ensure McKinsey set di standard across our profession," McKinsey tok for dia statement wey dem point us to.

McKinsey say dem dey deeply remorseful say one of dia employees engage for corrupt conduct. Dem add say dem don publicly apologise for 2018 and choose to take accountable action.