Thu Dec 05 21:13:43 UTC 2024: ## McKinsey Africa to Pay $122 Million in Bribery Settlement
**Johannesburg, South Africa –** An African subsidiary of McKinsey & Company will pay over $122 million to settle a U.S. Justice Department investigation into a bribery scheme involving South African government officials. The scheme, which ran from 2012 to 2016, targeted officials at the country’s state-owned port, rail, and pipeline custodian, as well as its state-controlled energy company. McKinsey Africa secured contracts through these bribes, generating $85 million in profits for the company and its parent firm.
The Justice Department has reached a deferred prosecution agreement with McKinsey Africa, avoiding prosecution under the Foreign Corrupt Practices Act if the company adheres to specific terms. McKinsey has acknowledged the wrongdoing, stating it has cooperated fully with authorities and implemented significant upgrades to its compliance controls. A former McKinsey senior manager implicated in the scheme has already pleaded guilty to federal charges and was dismissed by the company over seven years ago. McKinsey insists it has undergone significant internal changes since the events in question.
First Piper 