Still, even that drew stinging\u00a0criticism<\/a>\u00a0from the office of President Cyril Ramaphosa.\u00a0<\/p>\n\n\n\n \u201cLosing trust and confidence happens very quickly,\u201d Gregor Theisen, McKinsey\u2019s managing partner for Africa, said in an interview. <\/p>\n\n\n\n \u201cRebuilding takes a lot of time. This story will never be over and we will always carry it with us and therefore it is a journey, and the journey will take us years.\u201d \u00a0<\/p>\n\n\n\n The company was embroiled in the scandals during an era of government graft \u2014 known locally as state capture \u2014 that also involved Bain & Co., SAP SE, KPMG LLP and ABB Ltd. <\/p>\n\n\n\n Last year, McKinsey agreed to pay more than $122 million to resolve criminal allegations<\/a> made in a US investigation of its ties to impropriety involving former leaders of state-owned ports and freight-rail operator Transnet SOC Ltd. <\/p>\n\n\n\n It has also paid back fees to state power utility Eskom Holdings SOC Ltd. and the national airline<\/a>, South African Airways SOC Ltd. <\/p>\n\n\n\n McKinsey suspended work for state-owned companies in South Africa more than eight years ago \u2014 around the time reports about corruption surfaced. <\/p>\n\n\n\n It also co-operated with authorities investigating graft and took steps to bolster due diligence and compliance with local laws.\u00a0<\/p>\n\n\n\n It lost private-sector clients as the scandals unfolded, prompting it to redeploy employees to offices in other countries. <\/p>\n\n\n\n To date, the firm has had no formal discussions with the government about resuming state work. <\/p>\n\n\n\n \u201cIt\u2019s an internal decision until we feel comfortable and confident with all our internal risk frameworks,\u201d said Adolf Makgatho, McKinsey\u2019s managing partner for South Africa. <\/p>\n\n\n\n If \u201cwe think we can get real impact and we think that it\u2019s in line with our risk frameworks, yes, we\u2019ll probably look into it. But at the moment, no,\u201d he said.<\/p>\n\n\n\n Still, the company remains committed to South Africa and sees improvements in the local economy as opportunities to strengthen its corporate consulting business. <\/p>\n\n\n\n \u201cYou cannot have a successful Africa practice without having a successful South African practice,\u201d Theisen said. <\/p>\n\n\n\n The country \u201cis a significant engine for the continent and because we follow our clients, it\u2019s also important for us. So we remain heavily invested in this market.\u201d \u00a0<\/p>\n\n\n\n![\"\"](\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/12\/McKinsey.jpg\")
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