Calls to ban international company in SA, and the massive bill to save the Post Office

Here’s what is happening in and affecting South Africa today:

• Calls grow for international company ban: The Black Business Council has called for a complete ban and blacklisting of McKinsey & Company across South Africa, accusing those who continue to do business with the consultancy group of indirectly funding state capture. Last week, McKinsey agreed to pay R2.2 billion to resolve criminal accusations tied to a corruption scandal, resolving both a US investigation and charges brought against the consultancy by South Africa’s National Prosecuting Authority. [Business Day]

• SAPO’s pricy business rescue: The South African Post Office’s (SAPO) business rescue process has so far cost the fiscus R175.7 million for 13 months of work at the troubled state entity. Almost 82% of the funds (R143.9 million) was paid to consultants, R6.7 million went to the business rescue practitioners, and just over R2 million was spent on disbursements. [News24]

• Dodgy hospital contracts: The health department has now moved to withdraw from a R836 million project to install oxygen plants at government hospitals across South Africa. This is after Daily Maverick and amaBhungane revealed a slew of alleged irregularities regarding the contracts, who have now shed light on the involvement of two top government officials. [amaBhungane]

• Zama zama standoff continues: Illegal miners in Stilfontein, occupying an abandoned shaft, have made additional demands as a rescue operation enters another week. Despite a task team being formed last month to safely bring them back to the surface, and over 1,400 arrests in North West since October, the zama zamas continue requesting non-essential goods. They have asked for items that are not allowed under a court order granting NGOs only essential aid. Police warn that providing these items undermines efforts to dismantle the illegal mining operation. [EWN]

• Markets: The rand jumped on Monday at the start of a week packed with economic data releases, as gold prices climbed after China’s central bank resumed purchases of the bullion. On Tuesday (10 December), the rand was trading at R17.79 to the dollar, R22.67 to the pound, and R18.79 to the euro. Oil is trading at $71.87 a barrel. [Reuters]