Unaccountable 00009: McKinsey – Profit over Principle

Big consulting firms take no credit and they accept no blame. This philosophy has enabled McKinsey & Company to profit with ease from work with authoritarian regimes, troubled businesses and corrupt state-owned enterprises. In South Africa, their work at Eskom and Transnet on some of the most infamous State Capture contracts reveals a story of…

Unaccountable 00008: Estina’s Banks

The infamous Estina Vrede Dairy Project was supposed to direct public funds to ‘empower’ indigent Free State farmers and develop local agriculture. Instead, almost all of the money was looted to benefit the Gupta enterprise. This week Open Secrets focuses on two of the banks that facilitated this injustice. As shown in The Enablers Investigative…

Unaccountable 00007: HSBC – The World’s Oldest Cartel

If Transnet was a golden goose for the Gupta family and their associates, then global banking giant HSBC played the role of tending their illicit nest eggs. This week Open Secrets examines the role of a key global enabler in the State Capture network. As shown in The Enablers investigative report, it takes more than…

Nedbank and the Bank of Baroda — Banking on State Capture

Who laundered money for the Gupta acolytes and used the opportunity to cash in on State Capture? A new investigative report, ‘The Enablers’, co-authored by Open Secrets and Shadow World Investigations, details the role of bankers, accountants, consultants and lawyers in State Capture. Submitted to the Zondo commission, the report details case studies which are…

Unaccountable 00005: National Conventional Arms Control Committee – handmaiden to human rights abuse?

South Africa’s arms trade regulator has failed in its mandate to monitor the export of weapons to countries that, among other things, abuse human rights, or wage war against their own citizens. This begs the question, who will guard the guards themselves?  Apartheid South Africa was steeped in secretive arms deals with clandestine transactions propping…