McKinsey Collaborates with South African Group for G-20 Event Amid Controversy

McKinsey & Co is collaborating with a South African business lobby organization to prepare for an event aimed at linking global policymakers, civil society groups, and business leaders, which will be part of next year’s Group of 20 meetings.

This alliance between the consulting firm and Business Unity South Africa follows McKinsey’s recent agreement to pay over $122 million to settle criminal charges linked to a corruption scandal. This misconduct involved former executives of the state-owned ports and rail operator Transnet during a period marked by widespread government corruption, referred to locally as state capture.

The settlement addressed both a U.S. investigation and charges initiated against McKinsey by South Africa’s National Prosecuting Authority.

South Africa took on the presidency of the G-20 and its associated private-sector group, Business 20, this month. The country, the most industrialized on the continent, aims to highlight the developmental goals of the region and the wider Global South.

Business Unity South Africa will represent the nation’s private sector within B20, actively collaborating with McKinsey in anticipation of the 2025 summit.

The business collective finds it “fitting” to partner with McKinsey following the restitution agreement and the firm’s commitment to work alongside authorities to rectify the repercussions of state capture, as stated by Cas Coovadia, the sherpa for B20 South Africa and the outgoing head of Busa.

McKinsey is serving as a “development and knowledge partner,” providing support to the organization on a pro-bono basis, according to Kerry Naidoo, McKinsey Africa’s Director of Communications.

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