Coca-Cola cuts ties with McKinsey

Coca-Cola cuts ties with McKinsey.
Coca-Cola cuts ties with McKinsey.
Image: Pixabay

Coca-Cola has joined local banks in cutting ties with McKinsey after the consultancy became embroiled in the state capture scandal‚ Financial Times reported.

The soft drinks maker told the FT that Coca-Cola SA and its bottling company Coca-Cola Beverages SA would not contract any future work with the consultancy "until external investigations into potential corruption have been completed".

The FT also reported that Sasol had told it that it would stop new work with McKinsey.

A spokesperson for Sasol was reported as saying: "Following the allegations levelled against McKinsey‚ Sasol decided to have no new engagements with McKinsey. McKinsey is currently only consulting on projects it had been involved with prior to this decision."

Read the full story here.