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The ANC’s Women’s League is calling for a Judicial Commission of Inquiry over claims there is ‘corruption’ and poor transformation policies’ at embattled state airline, South African Airways (SAA) – which Bain & Company has worked with. The Women’s League wants to know why Bain & Company received a R208.9 million (14,4 millions euros) “handshake” after selling the Airline’s Fleet under what it calls “the guise of turning the airline around in 2002.” It also questions why Bain received more than R12 million as part of a three-year strategy contract, despite SAA already having an approved turnaround strategy. In addition to this, the former CEO of SAA Coleman Andrews is reported to have received a tax-free payment of R232 million during his two-and-half years at SAA, while reportedly failing to disclose to the Board of SAA during his appointment that he was a partner at Bain & Company.

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Source : https://businesstech.co

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