Treasury slaps Bain & Co with 10 year ban

JOHANNESBURG - National Treasury has banned Bain & Co from government contracts for ten years.

The effective date of restriction is from 5 September 2022 until 4 September 2032.

READ: State Capture Inquiry | Bain&Co banned from working with UK govt

Treasury says this is for engaging in corrupt and fraudulent practices related to a SARS contract.

The restriction will apply to any other contract for services awarded to Bain & Co in the public sector.

SARS and Treasury are in the process of restricting Bain & Company's South African Directors through a phased approach.