McKinsey Settles South Africa Bribery Case With USD 122 Million Payment

McKinsey & Company has settled a bribery case by agreeing to pay USD 122 million to resolve a felony investigation linked to its operations in South Africa.

The deferred prosecution deal was revealed by federal prosecutors in New York, and if McKinsey complies with certain requirements, the case would be dropped after three years. The focus of the inquiry was McKinsey’s employment with Eskom and Transnet, two state-owned businesses, where it was alleged that executives were bribed in exchange for lucrative contracts. A guilty plea to conspiracy to violate anti-corruption statutes was also entered by Vikas Sagar, a former senior partner. Among the numerous settlements McKinsey has had to pay is almost USD 1 billion related to its work for opioid producers.