Neelam Rahim | neelam@radioislam.co.za
3-minute read | 30 July 2025 | 13:40 CAT

📸 Bain’s Quiet Exit? | “Bain & Co. shutters consultancy in SA but leaves backdoor open through service hub.”

After years of pressure from civil society, Bain & Company has announced the closure of its consultancy operations in South Africa, a move met with cautious relief and lingering scepticism.

The decision follows Bain’s controversial role during the state capture era, most notably its involvement in dismantling the South African Revenue Services (SARS). According to Public Interest SA, the consultancy operated with “apparent impunity,” continuing its business post-Zondo Commission revelations without real consequence.

“They wrecked SARS and walked away with profits,” noted Public Interest SA’s Tebogo Khaas in an interview with Radio Islam. “Their so-called exit is not a gesture of remorse, it’s a strategic retreat.”

The move has sparked debate about the sincerity behind Bain’s withdrawal. “Is it motivated by conscience or reputational fatigue?” Khaas asked. Civil society organisations have long called for reparations and a public apology, but Khaas points out that Bain responded with silence once public pressure subsided.

While Bain’s withdrawal is notable, its decision to maintain a “service hub” in South Africa raises alarm. “They obviously think we are all stupid,” Khaas said bluntly. “They want to keep exploiting South Africa’s world-class telecom and financial infrastructure as a launchpad for operations across the continent.”

Indeed, South Africa remains a key node for consulting firms, boasting over 600 U.S. companies and a sophisticated regulatory landscape that makes it ideal for regional influence. Public Interest SA warns that Bain may use this residual presence to quietly re-enter African markets under the radar.

This situation echoes broader concerns over the lack of accountability for corporates implicated in state capture. “Why is it that Jacob Zuma and the Guptas face scrutiny, but Bain, KPMG, and McKinsey continue business as usual?” Khaas challenged. “Justice must be applied to corporates too.”

While some firms have issued public apologies and repaid limited sums, many like McKinsey and KPMG have failed to follow through on promises for genuine reform. “They’ve gone quiet, while companies still queue up to hire them,” Khaas concluded.

Public Interest SA’s message is clear: corporate complicity during state capture cannot be swept under the rug. Bain’s retreat may be a start, but without reparations and full accountability, it’s far from closure.

Listen to the full interview on The Daily Round-Up with Moulana Junaid Kharsany and Tebogho Khaas.