McKinsey agrees to repay R650m in fees to SAA, Transnet for work with Regiments

The state capture commission said that discussions were initiated with the consultancy company and there had been agreement.

United States' consultancy firm McKinsey. Picture: Twitter/@McKinsey

JOHANNESBURG - Consultancy McKinsey has agreed to pay back R650 million in fees to South African Airways (SAA) and Transnet for work undertaken with Regiments Capital.

The state capture commission said that discussions were initiated with the consultancy company and there had been agreement.

McKinsey and Regiments were called into question after hundreds of millions of rands were paid over despite SAA facing substantial financial problems at the time.

Witnesses from McKinsey are set to testify before the commission on Thursday.

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