South Africa’s Standard Bank drops McKinsey as Eskom scandal unfolds

South Africa’s Standard Bank drops McKinsey as Eskom scandal unfolds

South Africa’s Standard Bank said it has relieved McKinsey of their services after the global consultancy apologised for errors it made while working with state power utility Eskom last year.

“Standard Bank has elected to terminate McKinsey and Company’s services and has notified it accordingly,” Linstrom said in an emailed response to questions, without giving a reason.

Privately-held McKinsey, the world’s largest management consultancy, said it regretted working at Eskom alongside a company owned by the Gupta family, wealthy friends of President Jacob Zuma accused of unduly influencing government contracts