Boston consultancy Bain & Co has been barred from tendering for UK government contracts for three years for its role in a corruption scandal in South Africa that resulted in its former leader, Jacob Zuma, being jailed for 15 months in June 2021 over his failure to testify.
The ban will be applied retrospectively from the beginning of this year and was doled out by British Cabinet Office Minister Jacob Rees-Mogg, making the UK the first country to penalise Bain, and pressure is now on the US to do likewise.
Informing Bain's UK managing partner James Hadley of his decision in a letter seen by the Financial Times, Mr Rees-Mogg told him the company's integrity had been brought into question after it was found guilty earlier this year of undermining South Africa's revenue service through advisory work carried out at the behest of then president Zuma.
“I trust that after three years have elapsed Bain & Co will have restored its reputation,” wrote Mr Rees-Mogg, who also suggested the company appeared insufficiently penitent for the part it had played in the destabilisation of the South African economy in return for lucrative government contracts.
The ban was welcomed by veteran anti-apartheid campaigner Lord Peter Hain.
“I’m very pleased. This sets down a marker for all companies which behave in an unlawful, unethical and unprofessional way that they won’t be able to tender for government contracts," he said.
“I commend Jacob Rees-Mogg for doing this and I want the US government to do the same thing."
While Bain is not a major contractor for the UK government, it has still received business worth up to £63 million ($76.7m) since 2018. But it is the company's prestige, not pockets, that has been dealt the biggest blow.
“We were disappointed and surprised by the minister’s decision ... we will be responding to express our concern about the process and its outcome and to address inaccuracies in his letter," Bain said in a statement.
“If necessary, we will then consider other options for review of the decision. In the meantime, we will continue to work with the Cabinet Office to ensure that we do what is required to restore our standing with the UK government.”
This is not the first time a global consultancy has been punished for criminal behaviour in South Africa. Others include Mckinsey, KPMG, Deloitte and Bell Pottinger, the latter found guilty in 2017 of inflaming racial tensions in the country to benefit the agenda of the billionaire Gupta brothers.
The specs: 2019 Mercedes-Benz GLE
Price, base / as tested Dh274,000 (estimate)
Engine 3.0-litre inline six-cylinder
Gearbox Nine-speed automatic
Power 245hp @ 4,200rpm
Torque 500Nm @ 1,600rpm
Fuel economy, combined 6.4L / 100km
Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
Abu Dhabi World Pro 2019 remaining schedule:
Wednesday April 24: Abu Dhabi World Professional Jiu-Jitsu Championship, 11am-6pm
Thursday April 25: Abu Dhabi World Professional Jiu-Jitsu Championship, 11am-5pm
Friday April 26: Finals, 3-6pm
Saturday April 27: Awards ceremony, 4pm and 8pm
The specs
Engine: 0.8-litre four cylinder
Power: 70bhp
Torque: 66Nm
Transmission: four-speed manual
Price: $1,075 new in 1967, now valued at $40,000
On sale: Models from 1966 to 1970
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ESSENTIALS
The flights
Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.
The hotels
Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.
The tours
A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Series info
Test series schedule 1st Test, Abu Dhabi: Sri Lanka won by 21 runs; 2nd Test, Dubai: Play starts at 2pm, Friday-Tuesday
ODI series schedule 1st ODI, Dubai: October 13; 2nd ODI, Abu Dhabi: October 16; 3rd ODI, Abu Dhabi: October 18; 4th ODI, Sharjah: October 20; 5th ODI, Sharjah: October 23
T20 series schedule 1st T20, Abu Dhabi: October 26; 2nd T20, Abu Dhabi: October 27; 3rd T20, Lahore: October 29
Tickets Available at www.q-tickets.com
Stat Fourteen Fourteen of the past 15 Test matches in the UAE have been decided on the final day. Both of the previous two Tests at Dubai International Stadium have been settled in the last session. Pakistan won with less than an hour to go against West Indies last year. Against England in 2015, there were just three balls left.
Key battle - Azhar Ali v Rangana Herath Herath may not quite be as flash as Muttiah Muralitharan, his former spin-twin who ended his career by taking his 800th wicket with his final delivery in Tests. He still has a decent sense of an ending, though. He won the Abu Dhabi match for his side with 11 wickets, the last of which was his 400th in Tests. It was not the first time he has owned Pakistan, either. A quarter of all his Test victims have been Pakistani. If Pakistan are going to avoid a first ever series defeat in the UAE, Azhar, their senior batsman, needs to stand up and show the way to blunt Herath.
UAE currency: the story behind the money in your pockets
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
Vidaamuyarchi
Director: Magizh Thirumeni
Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra
Rating: 4/5
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